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.
In a statement on Sunday, October 18, the President’s Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to disregard the claim, arguing that the figures did not align with the country’s revenue-sharing formula or NLNG’s dividend history.
Makinde had raised the issue at the 2027 Budget Stakeholders’ Consultative Engagement at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday.
The governor alleged that the Federal Government had delayed the release of the funds until after the 2027 general election and had already spent the money.
“Each state was supposed to get 250 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?” Makinde said.
However, the Presidency said distributing 250 billion to each of Nigeria’s 36 states would amount to 9 trillion, excluding the Federal Government, the Federal Capital Territory and the 774 local councils.
It argued that under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable Federation Account revenue.
According to the statement, for...
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 a...