Presidency Accuses Makinde of Misleading Nigerians Over ₦250bn NLNG Dividends

…As Onanuga says governor’s claim of ₦250bn per state is inconsistent with revenue figures

The Presidency has dismissed Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigeria LNG Limited (NLNG) dividends for each state, describing the allegation as false and misleading.

The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, stated this in a press statement issued on today, in response to Makinde’s remarks at the 2027 Budget Stakeholders’ Consultative Engagement held at the University of Ibadan on Friday.

Makinde had alleged that the funds, which he said could have been used to finance projects to expand Oyo State’s economy, would not be released until after the 2027 elections.

He also questioned whether the election was more important than the welfare of Nigerians.

However, Onanuga argued that the claim was inconsistent with the Federation Account Allocation Committee’s revenue-sharing formula, explaining that the states’ 26.72 per cent share would require total NLNG dividends exceeding ₦33.68 trillion to generate ₦250 billion for each of the 36 states.

The Presidency added that NLNG had paid approximately 21.5 billion dollars in dividends to the Federation over the past 25 years, with less than three billion dollars realised since Tinubu assumed office.

It urged Makinde to refrain from making what it described as misleading claims and called on Nigerians to disregard the allegation.