FG not owing States N9trn NLNG funds, Presidency blasts Makinde

• Warns Oyo Gov. to stop spreading misinformation

By Chesa Chesa

The Presidency has dismissed Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigerian Liquefied Natural Gas (NLNG) dividends for each state until after the 2027 general elections.

In a statement issued on Sunday, Bayo Onanuga, Special Adviser to the President on Information and Strategy, described the claim as false, urging Nigerians to disregard it.

Makinde had made the allegation at the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday.

The governor alleged that the funds, which he said could have been used to finance projects to expand Oyo State’s economy, would not be released until after the elections.

“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 was quoted as saying.

However, the Presidency said the allegation was inconsistent with the figures involved and the established framework for distributing revenue from the Federation Account.

According to Onanuga, a one-off payment of ₦250 billion to each of the 36 states would amount to ₦9 trillion, excluding the Federal Government, the Federal Capital Territory and the 774 local government councils.

He explained that, under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable Federation Account revenue.

“For the states’ share alone to reach ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion (about $25 billion) in a single declaration,” the statement said.

Onanuga added that NLNG had never paid $25 billion in dividends to the Federation Account in a single payout.

Providing historical context, the Presidency stated that NLNG had paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion realised since President Bola Tinubu assumed office.

It argued that the claim of a single dividend payout exceeding the company’s entire historical distribution to the Federation was inconsistent with the figures presented.

The Presidency also criticised Makinde’s public statements, urging him to exercise greater restraint in his comments on federal revenue and fiscal matters.

Onanuga alleged that since embarking on his presidential ambition, the governor had made misleading claims instead of presenting verifiable facts.

He recalled Makinde’s previous description of substantial revenue allocations from the Federation Account to states, including Oyo, as “voodoo”.

The presidential spokesman acknowledged that Makinde was entitled under Nigerian law to pursue his presidential ambition but urged him to avoid what he described as falsehoods and disinformation in his campaign.

The Presidency urged Nigerians to disregard the governor’s claims, arguing that they could mislead the public and create unnecessary tension between citizens and the Federal Government.

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