The Presidency has rejected Oyo State Governor Seyi Makinde's allegation that the Federal Government is withholding ₦250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends from each state until after the 2027 elections, calling the claim false and mathematically impossible.
The dispute erupted after Makinde raised the issue on Friday, October 16, 2026, at the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan .
Special Adviser to the President on Information and Strategy Bayo Onanuga responded on Sunday, October 18, arguing that paying ₦250 billion to each of the 36 states would total ₦9 trillion, excluding shares for the Federal Government, the Federal Capital Territory, and the 774 local government councils.
Under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72% of distributable revenue.
Onanuga said a ₦9 trillion states’ share would require total NLNG dividends exceeding ₦33.68 trillion, or about $25 billion in a single declaration.
“NLNG has never paid $25 billion in dividends to the Federation Account in a single payout,” Onanuga said.
He disclosed that NLNG has paid approximately $21.5 billion in dividends over 25 years, with less than $3 billion since President Bola Tinubu took office in May 2023.
Makinde Stands His Ground
Makinde’s office fired back the same day, insisting the Presidency had sidestepped the central issue.
The governor’s Special Adviser on Media, Sulaimon Olanrewaju, said the Nigeria Governors’ Forum (NGF), with Federal Government support, hired a consultant to reconcile NLNG dividend payments .
“The exercise identified a shortfall of about ₦9 trillion due to states and local governments. The Federal Government accepted the findings,” Olanrewaju said .
He added that the report remains in the custody of both the Federal Government and the NGF. Makinde is the NGF’s incumbent vice-chairman.
Olanrewaju also challenged the Presidency to explain how the $21.5 billion already paid was distributed among the tiers of government .
A Pattern of Dispute
Onanuga accused Makinde of making misleading statements in pursuit of his presidential ambition. He recalled that the governor had previously described increased Federation Account allocations to states 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,” Onanuga said.
The Presidency urged Nigerians to disregard the allegation, warning that unsubstantiated claims about public revenue could mislead citizens and generate unnecessary hostility toward the Federal Government.
At the Ibadan event, Makinde had questioned the timing of the delayed payment.
“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?” he asked.
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