The Presidency has rejected claims by Oyo State Governor, Seyi Makinde, that the Federal Government is withholding N250bn in Nigeria LNG Limited (NLNG) dividends meant for each state until after the 2027 general elections.
The Federal Government described the allegation as misleading, arguing that the amount cited by the governor exceeds the total dividends NLNG has paid to the Federation throughout the company’s existence.
The rebuttal was contained in a statement issued on Sunday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, who urged Nigerians to disregard Makinde’s claim.
The Presidency also called on the governor to exercise greater restraint in his public statements and conduct.
Makinde had raised the issue on Friday during the 2027 Budget Stakeholders’ Consultative Engagement held at Olola Ogunlana Hall, International Conference Centre, University of Ibadan.
At the event, the governor alleged that each state was entitled to N250bn from the NLNG dividends but that the funds would not be released until after the 2027 elections.
According to him, the anticipated allocation had informed plans by his administration to undertake projects aimed at stimulating economic growth in Oyo State.
He questioned the rationale behind the alleged delay, asking whether the forthcoming elections were being prioritised over the welfare and development needs of Nigerians.
The governor reportedly further alleged that the dividends had been paid into the Federation Account but were subsequently spent exclusively by the Federal Government.
However, the Presidency challenged the financial basis of Makinde’s assertion, maintaining that the N250bn figure attributed to each state was greater than NLNG’s cumulative dividend payments to the Federation.
The exchange comes amid growing political tensions ahead of the 2027 general elections, with the management and distribution of public revenue emerging as a point of contention between political leaders.
