The Presidency has challenged Oyo State Governor Seyi Makinde to provide verifiable facts in his presidential campaign, accusing him of making misleading claims about ₦250 billion in Nigerian Liquefied Natural Gas (NLNG) dividends allegedly withheld by the Federal Government.
In a response published on X on Sunday, President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, rejected Makinde’s claim that the money meant for each state would not be released until after the 2027 general elections.
Onanuga said the figures did not support the governor’s allegation, citing the amount NLNG has paid in dividends to the Federation over the past 25 years.
Presidency questions ₦250bn claim
Makinde made the claim at the 2027 Budget Stakeholders’ Consultative Engagement at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday.
The governor said states had expected ₦250 billion each from the NLNG dividends and that Oyo State had identified projects to expand its economy. He also claimed the Federal Government had spent the money and postponed payment 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 said.
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Onanuga rejected the allegation and said the figures required to support the claim were far above NLNG’s dividend history.
He explained that distributing ₦250 billion to each of Nigeria’s 36 states would cost ₦9 trillion, excluding the Federal Government, the Federal Capital Territory and 774 local councils.
Under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable revenue from the account.
Onanuga said the states’ share alone would require total NLNG dividends exceeding ₦33.68 trillion, or about $25 billion, in one declaration to produce the claimed ₦9 trillion payout.
He maintained that NLNG had never paid $25 billion in dividends into the Federation Account in a single payout.
Tinubu’s aide cites NLNG dividend history
Onanuga said NLNG had paid about $21.5 billion in dividends to the Federation over 25 years. Less than $3 billion of that amount had been realised since Tinubu became president, he stated.
The presidential aide said the claim of a single dividend payout exceeding the company’s total historical payments to the Federation was not supported by the figures.
He also criticised Makinde’s public statements since the governor began his presidential bid, accusing him of using misleading claims for political purposes instead of presenting verifiable information.
Onanuga recalled that Makinde had previously called the large financial allocations from the Federation Account to states, including Oyo, “voodoo”.
He said Makinde had the right to pursue the presidency but should desist from making falsehoods and disinformation the hallmarks of his campaign.
The Presidency also asked Nigerians to disregard the governor’s claim, saying it could mislead citizens and create unnecessary hostility towards the Federal Government.
WHAT READERS SHOULD KNOW
The dispute concerns Makinde’s claim that each state was entitled to ₦250 billion from NLNG dividends and that payment had been delayed until after the 2027 elections.
The Presidency disputes the claim using NLNG’s reported dividend history and the revenue-sharing formula for states. Its response does not provide a separate breakdown of any outstanding dividend payment to individual states.
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