The Presidency needs to explain Governor Seyi Makinde’s declare that the Federal Executive is withholding ₦250 billion in NLNG dividends for each and every state of the Federation.
On the 2027 Funds Stakeholders’ Consultative Engagement held on the Olola Ogunlana Corridor, World Convention Centre, College of Ibadan, on Friday, Makinde claimed the price range would no longer be launched till after the 2027 elections. He additional claimed that the Federal Executive had spent the cash.
“Each and every state used to be intended to get ₦250 billion. We had already known initiatives that might extend Oyo State’s economic system. However they have got now stated the cash is probably not paid till after the election. Is the election extra essential than the folks of Nigeria?” the governor stated.
Makinde’s newest declare that the Federal Executive is withholding the NLNG dividend providence is fake and must be brushed aside.
Listed here are the information the general public must learn about how the Federation Account is controlled and the way cash is shared a few of the 3 tiers of presidency. At the same time as a one-off distribution, ₦250 billion to each and every of the 36 states quantities to ₦9.0 trillion, except the Federal Executive, the FCT, and the 774 native councils.
Below the Federation Account Allocation Committee (FAAC) system, states obtain 26.72% of the distributable Federation Account earnings. For the states’ proportion on my own to succeed in ₦9 trillion, general NLNG dividends paid into the Federation Account must exceed ₦33.68 trillion (about $25 billion) in one declaration.
NLNG hasn’t ever paid $25 billion in dividends to the Federation Account in one payout.
NLNG and Ancient Dividend Context:
NLNG has paid roughly $21.5 billion in dividends to the Federation over the past 25 years, with not up to $3 billion realised since President Bola Ahmed Tinubu assumed workplace.
Due to this fact, any declare {that a} unmarried payout exceeds the corporate’s complete lifetime distribution to the Federation—and is being withheld—defies fundamental common sense and financial truth.
We think Governor Makinde to be extra measured in his public habits and utterances. Since he launched into his presidential bid, he has selected to play politics via making deceptive claims slightly than presenting verifiable information. Certainly, he has grew to become false, unguarded statements and claims into an artwork shape.
He as soon as described the large monetary go with the flow from the federation account to states, together with Oyo, as ‘voodoo’.
Below Nigerian regulation, Governor Makinde is unfastened to pursue his presidential ambition. He must desist from making falsehoods and disinformation the hallmarks of his marketing campaign.
We urge the general public to overlook those unfounded claims, which serve best to misinform electorate and stoke pointless disaffection towards the Federal government.
Bayo Onanuga
Particular Adviser to the President
(Data and Technique)
October 18, 2026