I stand by my position that FG withholds N250bn NLNG funds due to states—Makinde
The presidential candidate of the Allied Peoples Movement (APM), Seyi Makinde, has challenged the Federal Government to publish records of dividends paid by Nigeria LNG Limited (NLNG) into the Federation Account The…
Nigeria LNG Limited, jointly owned by the Federal Government through NNPC, Shell, TotalEnergies and Eni, periodically pays dividends into the Federation Account, which are meant to be shared among the federal, state and local governments under Nigeria's revenue allocation formula. Disputes over the timing, transparency and disbursement of such dividends are not new, as states have historically relied on the Federation Account Allocation Committee (FAAC) to track inflows and ensure their constitutional share of revenue from oil and gas proceeds is remitted without delay or unilateral deductions by the centre.
The disagreement here centres on an allegation by Seyi Makinde, Oyo State governor and presidential candidate, that the Federal Government withheld or spent about N250 billion in NLNG dividends due to states without following due process, a claim he has reiterated despite pushback. What remains unreported across the coverage is any official response or detailed breakdown from the Federal Government, NNPC or NLNG itself confirming or refuting the figures, as well as independent verification of how the funds were allegedly applied. The story also unfolds against the backdrop of Makinde's presidential ambition, which may shape how the claim is framed politically.