The Presidency has dismissed as false and misleading a claim by Oyo State Governor Seyi Makinde that the Federal Government is withholding ₦250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends for each state of the federation.
The Special Adviser to President Bola Ahmed Tinubu on Information and Strategy, Bayo Onanuga, said the claim was not supported by the facts surrounding the management and distribution of Federation Account revenue.
Makinde had made the claim on Friday at the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan.
The governor alleged that the funds would not be released until after the 2027 elections, claiming that the money had already been spent by the Federal Government.
“Each state was supposed to get ₦250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” Makinde said.
Reacting in a statement on Sunday, Onanuga said Makinde’s claim that the Federal Government was withholding an NLNG dividend windfall should be disregarded.
He explained that if each of the 36 states were to receive ₦250 billion as a one-off distribution, the states alone would collectively receive ₦9 trillion, excluding allocations to the Federal Government, the Federal Capital Territory and the 774 local government councils.
According to him, under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable Federation Account revenue.
Onanuga said for the states’ share alone to amount to ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion, equivalent to about $25 billion, in a single declaration.
He noted that NLNG had never paid $25 billion in dividends to the Federation Account in a single payout.
Providing historical context, the presidential aide said NLNG had 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.
“Therefore, any claim that a single payout exceeds the company’s entire lifetime distribution to the Federation—and is being withheld—defies basic logic and economic reality,” Onanuga said.
The presidential aide also accused Makinde of making misleading claims since embarking on his presidential ambition, urging him to be more measured in his public statements.
He recalled that the governor had previously described the huge financial inflow from the Federation Account to states, including Oyo, as “voodoo”.
“Since he embarked on his presidential bid, he has chosen to play politics by making misleading claims rather than presenting verifiable facts,” Onanuga said.
He added that while Makinde was free under Nigerian law to pursue his presidential ambition, he should not make what he described as “falsehoods and disinformation” the hallmarks of his campaign.
Onanuga urged Nigerians to disregard the governor’s claim, saying it could mislead citizens and create unnecessary disaffection against the Federal Government.
