{"id":1548,"date":"2026-10-19T06:09:07","date_gmt":"2026-10-19T06:09:07","guid":{"rendered":"https:\/\/facthubafrica.com\/?p=1548"},"modified":"2026-10-19T06:09:08","modified_gmt":"2026-10-19T06:09:08","slug":"nlng-dividends-presidency-challenges-makinde-over-n250bn-claim","status":"publish","type":"post","link":"https:\/\/facthubafrica.com\/index.php\/2026\/10\/19\/nlng-dividends-presidency-challenges-makinde-over-n250bn-claim\/","title":{"rendered":"NLNG Dividends: Presidency Challenges Makinde Over N250bn Claim"},"content":{"rendered":"

The Presidency has challenged Oyo State Governor Seyi Makinde to provide evidence for his claim that the Federal Government is withholding N250bn in Nigeria Liquefied Natural Gas dividends due to each of the 36 states.<\/strong><\/p>\n

The Presidency described the allegation as misleading, arguing that the amount claimed would require NLNG to have declared dividends far beyond the figures recorded in its historical payments to the Federation.<\/p>\n

In a statement issued on Sunday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the governor should substantiate his allegation with verifiable financial records.<\/p>\n

The dispute followed Makinde\u2019s remarks at the 2027 Budget Stakeholders\u2019 Consultative Engagement at the University of Ibadan on Friday, where he alleged that the Federal Government had spent NLNG dividends belonging to the states and postponed their release until after the 2027 general elections.
\nThe governor said his administration had already identified projects to be funded with Oyo State\u2019s expected allocation.<\/p>\n

\u201cEach state was supposed to get N250 billion. We had already identified projects that would expand Oyo State\u2019s 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?\u201d he asked.<\/p>\n

However, the Presidency rejected the claim, arguing that an allocation of N250bn to each of the 36 states would amount to N9tn, excluding the shares of the Federal Government, the Federal Capital Territory and the 774 local government councils.
\nOnanuga said states receive 26.72 per cent of distributable Federation Account revenue under the revenue-sharing formula used by the Federation Account Allocation Committee.<\/p>\n

According to the Presidency, NLNG would have had to declare dividends exceeding N33.68tn for the states\u2019 collective share to reach N9tn under that formula.
\nThe statement maintained that the amount was inconsistent with the company\u2019s historical dividend payments to the Federation.<\/p>\n

It said NLNG had paid approximately $21.5bn in dividends to the Federation over the past 25 years, with less than $3bn realised since President Bola Tinubu assumed office in May 2023.<\/p>\n

The Presidency further argued that the alleged N250bn allocation for each state would require a dividend payout of about $25bn, exceeding the company\u2019s total dividend payments to the Federation over the period cited.<\/p>\n

\u201cMakinde\u2019s latest claim that the Federal Government is withholding the NLNG dividend windfall is false and should be disregarded,\u201d Onanuga said.
\nHe added, \u201cNLNG has never paid $25 billion in dividends to the Federation Account in a single payout.\u201d<\/p>\n

The presidential spokesman argued that the allegation lacked economic credibility and called on the governor to present evidence supporting his claim.<\/p>\n

The Presidency also questioned the timing of Makinde\u2019s remarks, linking them to his reported political ambition ahead of the 2027 elections.<\/p>\n

It accused the governor of making statements that could mislead Nigerians about the Federal Government\u2019s management of public revenue.<\/p>\n

\u201cWe expect Governor Makinde to be more measured in his public conduct and utterances. Since he embarked on his presidential bid, he has chosen to play politics by making misleading claims rather than presenting verifiable facts,\u201d the statement said.<\/p>\n

The Presidency also recalled Makinde\u2019s previous description of substantial financial allocations to states, including Oyo, as \u201cvoodoo\u201d, arguing that his latest comments reflected what it considered a pattern of questionable claims about federal revenue management.<\/p>\n

While acknowledging the governor\u2019s right to pursue his political ambitions, the Presidency urged him to ensure that his public statements were supported by verifiable facts.<\/p>\n

\u201cUnder Nigerian law, Governor Makinde is free to pursue his presidential ambition. He should desist from making falsehoods and disinformation the hallmarks of his campaign,\u201d Onanuga said.<\/p>\n","protected":false},"excerpt":{"rendered":"

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The Presidency has challenged Oyo State Governor Seyi Makinde to provide evidence for his claim that the Federal<\/p>\n","protected":false},"author":3,"featured_media":1554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[2],"tags":[340],"class_list":["post-1548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-presidency"],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/10\/e3749e1f0bf665078cd53ae6a4f2f8f7.png",225,225,false],"thumbnail":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/10\/e3749e1f0bf665078cd53ae6a4f2f8f7.png",225,225,false],"medium":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/10\/e3749e1f0bf665078cd53ae6a4f2f8f7.png",225,225,false],"medium_large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/10\/e3749e1f0bf665078cd53ae6a4f2f8f7.png",225,225,false],"large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/10\/e3749e1f0bf665078cd53ae6a4f2f8f7.png",225,225,false],"1536x1536":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/10\/e3749e1f0bf665078cd53ae6a4f2f8f7.png",225,225,false],"2048x2048":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/10\/e3749e1f0bf665078cd53ae6a4f2f8f7.png",225,225,false],"morenews-large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/10\/e3749e1f0bf665078cd53ae6a4f2f8f7.png",225,225,false],"morenews-medium":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/10\/e3749e1f0bf665078cd53ae6a4f2f8f7.png",225,225,false]},"author_info":{"info":["Publisher"]},"category_info":"News<\/a>","tag_info":"News","comment_count":"0","_links":{"self":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts\/1548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/comments?post=1548"}],"version-history":[{"count":1,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts\/1548\/revisions"}],"predecessor-version":[{"id":1555,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/posts\/1548\/revisions\/1555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/media\/1554"}],"wp:attachment":[{"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/media?parent=1548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/categories?post=1548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/facthubafrica.com\/index.php\/wp-json\/wp\/v2\/tags?post=1548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}