Makinde Asks FG to Explain $3bn NLNG Dividend Disbursement

Seyi Makinde, Oyo State governor, has requested the federal government to clarify the allocation of nearly $3 billion in dividends from Nigeria Liquefied Natural Gas Limited (NLNG) since 2023. The inquiry follows the administration's refusal to acknowledge claims that states and local governments have been denied their share of NLNG dividends.

Makinde alleged that each state was entitled to N250 billion, with the federal government withholding the funds, leading to a projected shortfall of about N9 trillion. The governor raised the issue during the 2027 Budget Stakeholders’ Consultative Engagement in Ibadan.

NLNG, which produces and exports liquefied natural gas and allied products, has been a focal point of the dispute. Makinde’s questioning centers on the federal government’s handling of the dividends, with no official explanation provided yet.