KOKO Business · 24 Oct 2026
Presidency Calls Out Makinde Over NLNG Dividend Claims

The presidency has urged Governor Seyi Makinde to refrain from spreading falsehoods regarding NLNG dividends. It stated that Makinde falsely claimed the Federal Government withheld ₦250 billion in dividends for each state of the Federation.
Makinde previously asserted that NLNG paid N9 trillion in dividends to the Tinubu administration and that the funds would not be released until after the 2027 elections. This claim was made during the 2027 Budget Stakeholders’ Consultative Engagement in Ibadan.
The presidency clarified that the money will not be paid until after the election, contradicting Makinde’s earlier assertion. It emphasized the need for Makinde to be cautious with his public statements.