By Danjuma Amodu
The Presidency has dismissed claims by Oyo State Governor, Mr. Seyi Makinde, that the Federal Government is withholding N250 billion in NLNG dividends for each state of the federation.
Makinde had alleged at the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan on Friday, that the funds would not be released until after the 2027 elections and that the Federal Government had spent the money.
“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?” the governor said.
But in a statement on Saturday, Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, said Makinde’s claim was false and should be disregarded.
Onanuga said even as a one-off distribution, N250 billion to each of the 36 states amounts to N9.0 trillion, excluding the Federal Government, the FCT and the 774 local councils.
Under the Federation Account Allocation Committee (FAAC) formula, he said states receive 26.72 per cent of the distributable Federation Account revenue, adding that for the states’ share alone to reach N9 trillion, total NLNG dividends paid into the Federation Account would have to exceed N33.68 trillion (about $25 billion) in a single declaration.
“NLNG has never paid $25 billion in dividends to the Federation Account in a single payout,” the Presidency stated.
It explained that NLNG has paid approximately $21.5 billion in dividends to the Federation over the last 25 years, with less than $3 billion realised since President Bola Ahmed Tinubu assumed office.
“Therefore, any claim that a single payout exceeds the company’s entire lifetime distribution to the Federation — and is being withheld — defies basic logic and economic reality,” Onanuga said.
The Presidency urged Makinde to be more measured in his public conduct, saying since he embarked on his presidential bid, he had chosen to play politics by making misleading claims rather than presenting verifiable facts.
It recalled that the governor once described the huge financial flow from the federation account to states, including Oyo, as ‘voodoo’.
“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 the public to disregard the claims, which it said served only to mislead citizens and stoke needless disaffection against Federal authorities.
