Makinde’s ₦250bn NLNG claim false — Presidency
The Presidency has refuted a claim by Oyo State Governor Seyi Makinde that the FG is withholding ₦250bn per state in NLNG dividends, calling it false. Read More:…
The Nigeria LNG (NLNG) Company periodically pays dividends to its shareholders, one of which is the Federal Government, which in turn is expected to channel portions of such earnings to states as part of revenue-sharing arrangements tied to gas and oil proceeds. Disputes over the distribution and timing of such windfalls are not new, as states have historically raised concerns about delayed or withheld allocations from federally managed revenue streams, fuelling tension between Abuja and state governments over fiscal transparency.
This particular dispute centres on claims by Oyo State Governor Seyi Makinde, who is also said to be eyeing the 2027 presidential race under the APM platform, that the Federal Government is sitting on roughly ₦250bn in NLNG dividends per state and does not intend to release the funds until after the 2027 elections, with some of it allegedly already spent. The Presidency has pushed back, describing the claim as false, though the specific figures, breakdown, or evidence either side has presented have not been detailed in the reports. The coverage across Punch, Tribune Online, and Channels TV is largely consistent in reporting the Presidency's denial, with Channels TV providing more detail on the specific allegations Makinde made, including the claim about post-election timing and the money being spent.