Nigeria Presidency Dismisses Makinde’s N250bn NLNG Dividend Claim

The Nigerian Presidency has dismissed claims by Oyo State Governor Seyi Makinde that the federal government is withholding N250 billion in NLNG dividends for each state. The Presidency described the claim as false and urged it to be disregarded.

According to the Presidency, a one-time distribution of N250 billion to each of the 36 states would total N9 trillion, excluding the federal government, FCT, and local councils. They emphasized that NLNG has never paid $25 billion in dividends to the Federation Account in a single payout.

The Special Adviser to the President, Bayo Onanuga, stated that any claim suggesting a single payout exceeded the company's entire lifetime distribution to the federation defies basic logic and economic reality.