Oyo State Governor Seyi Makinde has accused the Presidency of avoiding the main questions surrounding alleged unpaid Nigeria Liquefied Natural Gas dividends, saying the Federal Government should address whether states and local governments have received their proper shares rather than dispute his figures.
Dispute over NLNG dividend payments
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Makinde alleged that the Federal Government had withheld N250 billion in dividends from Nigeria Liquefied Natural Gas, or NLNG, that should have gone to state and local governments, claiming the funds would not be released until after the 2027 general election.
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Speaking during the 2027 Budget Stakeholders’ Consultative Engagement in Ibadan, he said a reconciliation exercise involving the Nigeria Governors’ Forum, or NGF, and the Federal Government had established that states and local councils were owed money from NLNG dividend distributions.
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The governor said the Federal Government had used the funds and delayed repayment for political considerations, with payment pushed beyond the 2027 polls.
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Bayo Onanuga, President Bola Tinubu’s Special Adviser on Information and Strategy, rejected Makinde’s account and said he had not made any incorrect statement. Onanuga argued that the governor’s N250 billion estimate was inconsistent with NLNG’s historical payments into the Federation Account.
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Makinde responded that his position was based on evidence, insisting that he does not cite financial figures without justification.
Governor calls for disclosure of distribution process
In a statement issued by his Media Adviser, Sulaimon Olanrewaju, Makinde said the Presidency’s response failed to deal with the substance of the issue.
The statement said the NGF, backed by the Federal Government, had engaged a consultant to reconcile questions surrounding NLNG dividend remittances. That exercise identified an estimated N9 trillion shortfall involving state and local government allocations, it said.
The Federal Government accepted the consultant’s findings, Makinde’s office said, adding that the report remains in the custody of both the Federal Government and the NGF.
Makinde, who is the serving vice-chairman of the NGF, said the Presidency should acknowledge the existence of the report rather than focus only on the overall dividend sum paid by NLNG.
The Presidency has said NLNG has remitted $21.5 billion in dividends to the Federation Account since operations began, including $3 billion received under the current administration.
Makinde’s office said the unresolved issue was how those funds were allocated among the three tiers of government. It asked whether states and local governments had received their statutory portions, how much they received, and what formula was used to calculate the distributions.
The statement also questioned the treatment of the $3 billion received during the present administration. It said Makinde had maintained a respectful and responsible approach and would not make unfounded claims or present unsupported figures.
The governor said he remained ready to provide further clarification and urged the Presidency to address the central questions over NLNG dividend sharing.
