The Presidency has dismissed as false Governor Seyi Makinde’s claim that the Federal Government is withholding N250 billion in NLNG dividends for each state.
In a statement on Saturday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, said Makinde’s claim should be disregarded.
Makinde had said at the 2027 Budget Stakeholders’ Consultative Engagement at Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday, that each state was supposed to get N250 billion but the funds would not be released until after the 2027 elections. 
“Each state was supposed to get N250 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 was quoted as saying.
Onanuga said even as a one-off distribution, N250 billion to each of the 36 states amounts to N9 trillion, excluding the Federal Government, the FCT and 774 local councils.
Under the Federation Account Allocation Committee, FAAC, formula, he explained, states receive 26.72% of distributable Federation Account revenue. For states’ share alone to reach N9 trillion, total NLNG dividends paid into the Federation Account would have to exceed N33.68 trillion, about $25 billion, in a single declaration.
“NLNG has never paid $25 billion in dividends to the Federation Account in a single payout,” the Presidency said.
It added that NLNG has paid approximately $21.5 billion in dividends to the Federation over the last 25 years, with less than $3 billion realised since President Bola Ahmed 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.
He urged Makinde to be more measured in his public conduct, saying since he embarked on his presidential bid, he has chosen to play politics by making misleading claims rather than presenting verifiable facts.
“We expect Governor Makinde to be more measured in his public conduct and utterances. Since he embarked on his presidential bid, he has chosen to play politics by making misleading claims rather than presenting verifiable facts. Indeed, he has turned false, unguarded statements and claims into an art form,” he said.
“He once described the huge financial flow from the federation account to states, including Oyo, as ‘voodoo’.”
Onanuga said under Nigerian law, Makinde is free to pursue his presidential ambition but should desist from making falsehoods and disinformation the hallmarks of his campaign.
“We urge the public to disregard these unfounded claims, which serve only to mislead citizens and stoke needless disaffection against the Federal authorities,” the statement added.
