Presidency Dismisses Makinde’s Claim of ₦250bn NLNG Dividends for Each State

The Presidency has rejected Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigerian Liquefied Natural Gas (NLNG) dividends for each state until after the 2027 general elections.

In a statement issued on Sunday, October 18, 2026, President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, described the governor’s allegation as false, arguing that the figures cited were inconsistent with the historical dividend payments made by NLNG to the Federation Account.

Makinde had raised the issue during the 2027 Budget Stakeholders’ Consultative Engagement at the International Conference Centre, University of Ibadan, on Friday. He alleged that the funds had been expected by the states and claimed the Federal Government had said the money would not be released until after the elections.

The governor said Oyo State had already identified projects that could stimulate economic growth but questioned why the proposed funds would be delayed, asking whether the election was more important than the welfare of Nigerians.

However, the Presidency argued that distributing ₦250 billion to each of Nigeria’s 36 states would amount to ₦9 trillion in a single allocation, excluding the Federal Capital Territory, the Federal Government and the 774 local government areas.

Onanuga said that, under the Federation Account Allocation Committee revenue-sharing formula, states receive 26.72 per cent of distributable Federation Account revenue. He argued that the states’ share alone would require total NLNG dividends exceeding ₦33.68 trillion, equivalent to approximately $25 billion, for each state to receive ₦250 billion.

According to the statement, NLNG has paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion realised since Tinubu assumed office.

The Presidency maintained that the figures made Makinde’s claim of a single, withheld dividend payout of the size alleged implausible. It urged the public to disregard the governor’s assertion.

Onanuga also criticised Makinde’s public comments, accusing him of using misleading claims in pursuit of his presidential ambition. He cited the governor’s previous description of substantial Federation Account allocations to states as “voodoo” and urged him to support his arguments with verifiable information.

The exchange adds to the political debate ahead of the 2027 general elections, with the Presidency and the Oyo governor offering sharply different accounts of the alleged NLNG dividend payments.

The Presidency’s statement did not identify a specific ₦250 billion-per-state dividend allocation or provide a payment schedule for such funds. Makinde’s claim and the government’s response therefore remain at the centre of the dispute over what revenue was expected and whether any payment had been delayed.