Oyo State Governor Seyi Makinde has renewed his allegation that the Federal Government is withholding Nigeria LNG Limited (NLNG) dividends due to states and local governments, challenging the Presidency to explain how the funds were distributed.
The governor’s position came after presidential spokesman Bayo Onanuga dismissed his claim as false, arguing that the figures cited were inconsistent with NLNG’s historical dividend payments and the revenue-sharing formula.
In a statement on Monday, signed by his Special Adviser on Media, Sulaimon Olanrewaju, Makinde accused the Presidency of avoiding the central issue surrounding the alleged outstanding payments.
“We have read the Presidency’s response to Governor Seyi Makinde’s statement on the Federal Government’s withholding of NLNG dividends due to states and local governments,” the statement said.
It added, “The response sidestepped the central issue: the Nigeria Governors’ Forum (NGF), with the Federal Government’s support, engaged a consultant to reconcile NLNG dividend payments.”
According to the governor, the reconciliation exercise identified a shortfall of about ₦9 trillion owed to states and local governments, with the Federal Government accepting the findings.
“The report remains in the custody of both the Federal Government and the NGF. We trust the Presidency will not deny its existence,” the statement said.
Makinde, who is the incumbent vice-chairman of the Nigeria Governors’ Forum, also questioned the Presidency’s account of NLNG’s dividend payments over the years.
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Onanuga had stated that NLNG paid approximately $21.5bn in dividends to the Federation over the past 25 years, including less than $3bn since President Bola Tinubu assumed office.
However, Makinde’s camp said the Presidency had failed to explain how the money was shared among the different tiers of government.
“Have states and local governments received their shares? How much did they receive, and how were those amounts calculated? What happened to the $3 billion received under this administration?” the statement asked.
Makinde had raised the issue at the 2027 Budget Stakeholders’ Consultative Engagement in Ibadan on Friday, alleging that each state was entitled to ₦250bn but that payment had been delayed until after the 2027 elections.
The Presidency rejected the claim, saying that paying ₦250bn to each of the 36 states would require ₦9tn, excluding allocations to the Federal Government, the FCT and 774 local government councils.
It also argued that states receive 26.72 per cent of distributable Federation Account revenue, meaning the total NLNG dividend payout would have to exceed ₦33.68tn, or about $25bn, for states alone to receive the amount claimed.
In response, Makinde’s media aide defended the governor’s position, saying he conducted public discourse with decorum and did not make claims without a basis.
“We remain ready to provide further clarification while we urge the presidency to address the substance of the matter,” the statement added.