Many Nigerians hoping for more funds to improve roads, schools and hospitals have been caught in a fresh political dispute after the Presidency dismissed Governor Seyi Makinde’s claim that every state was denied ₦250 billion from Nigeria LNG (NLNG) dividends.
The Presidency described the allegation as false and misleading, insisting that such an amount was never available for distribution to states.
In a statement issued on Sunday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, said Makinde’s comments during the 2027 Budget Stakeholders’ Consultative Engagement in Ibadan did not reflect the true financial position of the Federation Account.
Makinde had claimed that each of Nigeria’s 36 states was entitled to ₦250 billion from NLNG dividends but alleged that the Federal Government had postponed the payment until after the 2027 general election.
He said the expected funds would have helped Oyo State finance projects aimed at expanding its economy.
“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.
Responding, the Presidency urged Nigerians to disregard the claim, explaining that paying ₦250 billion to each of the 36 states alone would amount to about ₦9 trillion, excluding the Federal Government, the Federal Capital Territory and the 774 local government councils.
It said under the current Federation Account Allocation Committee (FAAC) sharing formula, states receive 26.72 per cent of distributable revenue, meaning NLNG dividends would have to exceed ₦33.68 trillion, or about 25 billion dollars, before states could receive ₦250 billion each.
According to the Presidency, NLNG has never declared dividends of that size in a single payment. It added that the company has paid about 21.5 billion dollars in total dividends to the Federation over the past 25 years, with less than three billion dollars received since President Bola Tinubu assumed office.
The statement said any claim suggesting a single dividend payment exceeded the company’s lifetime dividend distribution was inconsistent with available records.
The Presidency also accused Makinde of making misleading political claims since declaring his presidential ambition and urged him to base public comments on verifiable facts. It further reminded Nigerians that the Oyo State governor had previously described increased FAAC allocations to states as “voodoo.”
While affirming Makinde’s constitutional right to contest for the presidency, the Presidency called on political leaders to avoid spreading what it described as false information, saying transparency and accurate facts remain essential to public trust.