Presidency, Makinde at ‘war’ over N250bn NLNG dividend
Presidency Disputes Governor Makinde’s Claims on NLNG Dividends
By Johnbosco Agbakwuru & Adeola Badru
ABUJA — The Nigerian Presidency has called false the claims made by Oyo State Governor Seyi Makinde regarding the federal government’s alleged withholding of N250 billion in dividends from the Nigeria Liquefied Natural Gas (NLNG) for each state. The Presidency urged the public to disregard Makinde’s assertions.
In a statement released by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the Presidency countered that Makinde’s claims defy economic logic. The statement highlighted that distributing N250 billion to each of the 36 states would total N9 trillion, excluding the federal government, FCT, and local councils. Furthermore, it stated that NLNG has never disbursed $25 billion in dividends in a single payment to the Federation Account.
Governor Makinde, who is also a presidential candidate for the Allied Peoples Movement (APM), alleged that the federal government is delaying the release of these funds until after the 2027 elections. He made these comments during a budget consultative session at the University of Ibadan, citing the funds as critical for development projects in Oyo State.
In response, the Presidency described Makinde’s claim as misleading. “Any assertion that a single payout to the states exceeds NLNG’s lifetime payouts is economically unfounded,” Onanuga noted. He explained that while states receive 26.72 percent of the distributable revenue under the Federation Account Allocation Committee (FAAC) formula, NLNG’s total dividends over the past 25 years have been approximately $21.5 billion, with less than $3 billion received since President Bola Ahmed Tinubu took office.
The Presidency advised Governor Makinde to be more responsible with his public statements, asserting that such claims only serve to mislead the public and sow discord against the federal government.
In a subsequent statement, the Makinde-Daura Campaign Organisation reiterated its allegations. They criticized the Presidency for failing to address the specific concerns raised regarding the distribution of NLNG dividends and insisted that discrepancies had been identified in the amounts owed to the states and local governments.
Makinde’s spokesperson, Dr. Sulaimon Olanrewaju, noted that a reconciliation exercise conducted with the Nigeria Governors’ Forum had revealed an alleged shortfall of approximately N9 trillion. The spokesperson urged the federal government to clarify how NLNG dividends were distributed and to provide specific details regarding the payments.
“The report is held by both the federal government and the Nigeria Governors’ Forum, which they cannot deny,” Olanrewaju asserted. He emphasized that questions surrounding the allocation of NLNG payments must be addressed to clear any confusion.
The Makinde-Daura Campaign further dismissed the Presidency’s response as an evasion of critical issues. They called for transparency regarding the NLNG dividend receipts and an explanation of the distribution process from the federal government.
The ongoing dispute reflects broader tensions as Nigeria approaches the 2027 elections, with Makinde positioning himself as a significant contender against incumbent President Tinubu. As this political narrative unfolds, questions about fiscal accountability and governance continue to emerge.
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