The Presidency has dismissed claims by Governor Seyi Makinde of Oyo State that the federal government is withholding N250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends for each state of the federation.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement on Sunday, said Mr Makinde’s claim is false and should be disregarded.
Mr Makinde had, at the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday, alleged that the funds would not be released until after the 2027 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?” Mr Makinde was quoted as saying.
He further claimed the federal government had spent the money.
But Mr Onanuga said the claim defies basic logic and economic reality.
The presidency explained that 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, it said, states receive 26.72 per cent of the distributable Federation Account revenue.
“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 statement said.
The presidency added 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 Tinubu assumed office.
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“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,” it said.
Mr Onanuga said Mr Makinde has chosen to play politics since embarking on his presidential bid.
“We expect Governor Makinde to be more measured in his public conduct and utterances. Since he embarked on his presidential bid, he has chosen to play politics by making misleading claims rather than presenting verifiable facts. Indeed, he has turned false, unguarded statements and claims into an art form.
“He 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,” Mr Onanuga added.
He urged the public to disregard the claims, saying they serve only to mislead citizens and stoke disaffection against federal authorities.
