Presidency Rejects Makinde’s NLNG Dividends Claim

The presidency has rejected claims by Oyo State Governor Seyi Makinde that the federal government is withholding N250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends for each of the 36 states. The administration described the allegation as false and inconsistent with the company’s financial records.

Mr Makinde, who is also the Allied Peoples Movement (APM) presidential candidate for the 2027 general election, made the comments during the 2027 Budget Stakeholders’ Consultative Engagement held at the University of Ibadan on Friday. He accused the Tinubu-led government of withholding substantial NLNG dividend payments.

The Presidency argued that the claim was financially implausible, stating that NLNG dividends accruing to the Federation are shared among the three tiers of government according to the revenue-allocation formula. It noted that for states’ share alone to reach N9 trillion, total NLNG dividends paid into the Federation Account would have to exceed N33.68 trillion.