Presidency Rejects Gov Makinde’s Claim On N250bn NLNG Dividends

The Presidency has dismissed claims by Governor Seyi Makinde of Oyo state that the Federal Government is withholding N250 billion in Nigeria LNG (NLNG) dividends for each state until after the 2027 general elections.

Politics Nigeria reports that the Presidency described the claim as false.

It argued that the amount Makinde cited was inconsistent with the revenue-sharing formula and the historical dividends paid by NLNG to the Federation.

In a statement issued on Sunday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, stated that the governor’s allegation should be disregarded.

Makinde, the presidential candidate of Allied People Movement (APM) in the 2027 election, had raised concerns about the alleged delay in releasing the funds while speaking at the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday.

The governor said Oyo State had already identified projects that would expand its economy but claimed the Federal Government had decided to delay payment until after the elections.

“Each state was supposed to get N250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” Makinde asked.

However, the Presidency challenged the financial basis of the allegation, arguing that the amount would require an unprecedented dividend payment from NLNG.

According to Onanuga, distributing N250 billion to each of Nigeria’s 36 states would amount to N9 trillion in total, excluding the Federal Government, the Federal Capital Territory and the 774 local government councils.

He explained that under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable revenue from the Federation Account.

Onanuga said NLNG would have needed to pay more than N33.68 trillion, equivalent to about $25 billion, in a single dividend declaration for the states’ collective share to reach N9 trillion.

“NLNG has never paid $25 billion in dividends to the Federation Account in a single payout,” the president’s spokesman said.

The presidential aide further stated that NLNG had paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion realised since President Bola Tinubu assumed office.

He argued that Makinde’s allegation was therefore inconsistent with the company’s historical dividend payments.

The Presidency also criticised the governor’s public statements, accusing him of using misleading claims for political purposes as he pursues his presidential ambition.

Onanuga recalled Makinde’s previous description of the substantial financial allocations to states from the Federation Account, including Oyo State, as “voodoo”.

He said the governor was free to pursue his presidential ambition but urged him to avoid statements the Presidency considers misleading.

“Under Nigerian law, Governor Makinde is free to pursue his presidential ambition. He should desist from making falsehoods and disinformation the hallmarks of his campaign,” the statement added.

The Presidency urged Nigerians to disregard the governor’s claim, arguing that it could mislead citizens and create unnecessary hostility towards the Federal Government.

Meanwhile, Makinde has called on Christians to take a more active role in politics and national development, insisting that poverty, rather than religion, remains Nigeria’s primary problem.

The governor spoke in Abuja on Saturday after receiving a Christian icon award at the Christian Association of Nigeria’s (CAN) 50th anniversary celebration.

Makinde expressed gratitude for the recognition but said he also saw the occasion as an opportunity to encourage Christians to contribute to the country’s transformation.

“Our problem is not primarily a religious one. Our problem in this country is poverty — grinding poverty,” he said.

He urged Christians to focus on addressing the country’s pressing challenges instead of avoiding political participation because of concerns about the nature of politics.

Makinde also challenged the perception among some Christians that politics is inherently dirty or that they should avoid working with people of different religious beliefs.