The Presidency has dismissed Makinde’s claim that ₦250 billion was due to each state but would not be released until after the 2027 general elections. Presidential spokesman Bayo Onanuga argued that paying ₦250 billion to each of Nigeria’s 36 states would amount to ₦9 trillion, requiring total dividends of more than ₦33.68 trillion under the states’ Federation Account allocation share.
Onanuga said NLNG had paid approximately $21.5 billion in dividends to the Federation over 25 years, with less than $3 billion received since President Bola Tinubu took office.
Makinde’s camp, however, says the dispute is not resolved by citing the company’s cumulative dividend payments. His media aide, Sulaimon Olanrewaju, said a reconciliation exercise involving a consultant engaged by the Nigeria Governors’ Forum identified an alleged shortfall of about ₦9 trillion owed to states and local governments.
The governor’s camp has challenged the Federal Government to publish the relevant dividend receipts, Federation Account Allocation Committee decisions and records showing how the funds were distributed.
The Presidency maintains that Makinde’s claim is false, while the governor’s camp insists that the specific payments and allocations require a transparent explanation.
The dispute has intensified scrutiny of revenue sharing ahead of the 2027 elections. Official financial records will be central to resolving the competing claims.
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Summary
The Presidency has rejected Seyi Makinde’s claim that ₦250 billion in NLNG dividends is being withheld for each state, while the Oyo governor’s camp is demanding a detailed account of how the funds were received and shared. The Presidency and Oyo State Governor Seyi Makinde are locked in a dispute over alleged unpaid Nigeria LNG Limited (NLNG) dividends,...
Key takeaways
- The Presidency has rejected Seyi Makinde’s claim that ₦250 billion in NLNG dividends is being withheld for each state, while the Oyo governor’s camp is demanding a detailed account of how the funds were received and shared.
- The Presidency and Oyo State Governor Seyi Makinde are locked in a dispute over alleged unpaid Nigeria LNG Limited (NLNG) dividends, with both sides demanding answers over the handling of public funds.The Presidency has dismissed Makinde’s claim that ₦250 billion was due to each state but would not be released until after the 2027 general elections.
- Presidential spokesman Bayo Onanuga argued that paying ₦250 billion to each of Nigeria’s 36 states would amount to ₦9 trillion, requiring total dividends of more than ₦33.68 trillion under the states’ Federation Account allocation share.Onanuga said NLNG had paid approximately $21.5 billion in dividends to the Federation over 25 years, with less than $3 billion received since President Bola Tinubu took office.Makinde’s camp, however, says the dispute is not resolved by citing the company’s cumulative dividend payments.
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What is this story about?
The Presidency has rejected Seyi Makinde’s claim that ₦250 billion in NLNG dividends is being withheld for each state, while the Oyo governor’s camp is demanding a detailed account of how the funds were received and shared. The Presidency and Oyo State Governor Seyi Makinde are locked in a dispute over alleged unpaid Nigeria LNG Limited (NLNG) dividends,...
Who published this story?
Glow 99.1 FM published this story with GlowRy Atuah listed as author.
When was it published?
October 19, 2026
