The Federal Government has challenged Oyo State Governor Seyi Makinde over his claim that it is withholding ₦250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends for each state, describing the allegation as false and inconsistent with available figures.
The President’s Special Adviser on Information and Strategy, Bayo Onanuga, said the claim contradicted the Federation Account revenue-sharing formula and NLNG’s historical dividend payments.
Makinde had alleged that the funds would not be released until after the 2027 general elections, claiming that the money could have been used to finance projects to boost Oyo State’s economy.
Speaking at the 2027 Budget Stakeholders’ Consultative Engagement held at Olola Ogunlana Hall, International Conference Centre, University of Ibadan, the governor questioned the alleged delay in releasing the funds.
“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, in a statement issued on Sunday, Onanuga rejected the allegation, arguing that the amount claimed by the governor was inconsistent with the revenue-sharing arrangements and NLNG’s dividend history.
“Makinde’s latest claim that the Federal Government is withholding the NLNG dividend windfall is false and should be disregarded,” he said.
Onanuga explained that ₦250 billion for each of the 36 states would amount to ₦9 trillion, excluding the Federal Government, the Federal Capital Territory and the 774 local government areas.
He said states receive 26.72 per cent of distributable revenue under the Federation Account Allocation Committee (FAAC) formula.
“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 presidential aide said.
He added that NLNG had never paid $25 billion in dividends to the Federation Account in a single payout.
Providing further details, Onanuga said 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.
“Therefore, any claim that a single payout exceeds the company’s entire lifetime distribution to the Federation—and is being withheld—defies basic logic and economic reality,” he said.
The presidential aide also criticised Makinde’s public statements on federal revenue, urging the governor to exercise restraint in his comments.
“We expect Governor Makinde to be more measured in his public conduct and utterances,” Onanuga said.
He accused the governor of making misleading claims since embarking on his presidential ambition, arguing that he should present verifiable facts when discussing the management of public funds.
“Since he embarked on his presidential bid, he has chosen to play politics by making misleading claims rather than presenting verifiable facts,” he said.
Onanuga also recalled Makinde’s previous description of the financial allocations flowing from the Federation Account to states, including Oyo, 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,” the statement added.
The Presidency urged Nigerians to disregard what it described as unfounded claims, saying they could mislead citizens and create unnecessary tension between the public and the Federal Government.