Oyo govt challenges presidency to explain distribution of $3bn received under Tinubu

The Oyo State Executive has challenged the presidency to give an explanation for how dividends paid through Nigeria Liquefied Herbal Gasoline Restricted (NLNG) and won beneath President Bola Tinubu had been allotted a number of the federal, state and native governments, keeping up {that a} reconciliation workout known a shortfall of about N9 trillion owed to states and native governments.

PREMIUM TIMES reported the presidency’s rejection of the Oyo State Governor Seyi Makinde’s allegation that the government was once withholding NLNG dividends because of states and native governments

In a statement issued through his Particular Adviser on Media, Sulaimon Olanrewaju, Mr Makinde mentioned the presidency’s reaction failed to handle the central query of the way the price range had been allotted.

The governor, the presidential candidate of the Allied Other folks’s Motion for the 2027 election, mentioned the Nigeria Governors’ Discussion board (NGF), with the government’s toughen, engaged a expert to reconcile NLNG dividend bills.

“The workout known a shortfall of about N9 trillion because of states and native governments. The government permitted the findings,” the observation learn.

Mr Makinde added that the reconciliation record remained within the custody of each the government and the NGF, expressing self assurance that the presidency would no longer deny its lifestyles.

The governor, who will likely be operating towards President Tinubu, the candidate of the All Progressives Congress within the upcoming 2027 election, is the incumbent vice-chairman of the NGF.

FG, Oyo executive dispute over NLNG dividends

The dispute adopted Mr Makinde’s declare that each and every state was once entitled to about N250 billion in NLNG dividends that had allegedly been withheld through the government.

In its reaction on Sunday, presidential spokesperson Bayo Onanuga described the declare as false, arguing that the quantity would indicate a complete distribution of N9 trillion to the 36 states by myself.

Mr Onanuga mentioned states obtain 26.72 in keeping with cent of distributable Federation Account profit beneath the prevailing revenue-sharing formulation. He argued that for the states’ mixed proportion to succeed in N9 trillion, general NLNG dividends paid into the Federation Account must exceed N33.68 trillion ($25 billion), in one declaration.

The presidency mentioned NLNG had paid roughly $21.5 billion in dividends to the federation over the last 25 years, with not up to $3 billion won beneath the Tinubu management.

Oyo questions distribution of $3 billion

The Oyo executive mentioned the presidency had no longer defined how the dividends won beneath the present management had been allotted or how a lot each and every tier of presidency won.

“Have states and native governments won their stocks? How a lot did they obtain, and the way had been the ones quantities calculated? What came about to the $3 billion won beneath this management?” the observation requested.

The observation additionally defended Mr Makinde’s figures, pronouncing the governor had a foundation for his claims. “Governor Makinde conducts public discourse with decorum and does no longer make unfounded claims or quote figures with out a foundation.”

It suggested the presidency to handle the substance of the allegation and mentioned it was once able to supply additional explanation.

Whilst the presidency’s reaction centered at the scale of NLNG’s ancient dividend bills and the revenue-sharing implications of Mr Makinde’s declare, it didn’t supply a transaction-by-transaction reconciliation of the dividend proceeds in query or a breakdown of the way the quantity won beneath the present management was once allotted a number of the 3 tiers of presidency.