The Presidency needs to make clear Governor Seyi Makinde’s declare that the Federal Government is withholding ₦250 billion in NLNG dividends for every state of the Federation.
At the 2027 Budget Stakeholders’ Consultative Engagement held on the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday, Makinde claimed the funds wouldn’t be launched till after the 2027 elections. He additional claimed that the Federal Government had spent the cash.
“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?” the governor stated.
Makinde’s newest declare that the Federal Government is withholding the NLNG dividend windfall is fake and needs to be disregarded.
Here are the information the general public ought to find out about how the Federation Account is managed and the way cash is shared among the many three tiers of presidency. Even as a one-off distribution, ₦250 billion to every of the 36 states quantities to ₦9.0 trillion, excluding the Federal Government, the FCT, and the 774 native councils.
Under the Federation Account Allocation Committee (FAAC) system, states obtain 26.72% of the distributable Federation Account income. For the states’ share alone to achieve ₦9 trillion, complete NLNG dividends paid into the Federation Account must exceed ₦33.68 trillion (about $25 billion) in a single declaration.
NLNG has by no means paid $25 billion in dividends to the Federation Account in a single payout.
NLNG and Historical Dividend Context:
NLNG has paid roughly $21.5 billion in dividends to the Federation during the last 25 years, with lower than $3 billion realised since President Bola Ahmed Tinubu assumed workplace.
Therefore, any declare {that a} single payout exceeds the corporate’s complete lifetime distribution to the Federation—and is being withheld—defies fundamental logic and financial actuality.
We anticipate Governor Makinde to be extra measured in his public conduct and utterances. Since he launched into his presidential bid, he has chosen to play politics by making deceptive claims reasonably than presenting verifiable information. Indeed, he has turned false, unguarded statements and claims into an artwork type.
He as soon as described the large monetary circulate from the federation account to states, together with Oyo, as ‘voodoo’.
Under Nigerian regulation, Governor Makinde is free to pursue his presidential ambition. He ought to desist from making falsehoods and disinformation the hallmarks of his marketing campaign.
We urge the general public to ignore these unfounded claims, which serve solely to mislead residents and stoke useless disaffection in opposition to the Federal authorities.
Bayo Onanuga
Special Adviser to the President
(Information and Strategy)
October 18, 2026
