Oyo State Governor Seyi Makinde has challenged the Federal Government to explain how it disbursed nearly $3 billion received as dividends from the Nigeria Liquefied Natural Gas Limited (NLNG) since President Bola Tinubu assumed office in 2023.
Makinde’s position followed the Presidency’s rejection of his claim that the Federal Government was withholding NLNG dividends due to states and local governments, resulting in an alleged shortfall of about ₦9 trillion.
Speaking at the 2027 Budget Stakeholders’ Consultative Engagement in Ibadan on Friday, the governor had claimed that each state was entitled to ₦250 billion from the dividends.
However, the Presidency, through Bayo Onanuga, Special Adviser to the President on Information and Strategy, dismissed the claim as false, arguing that the figures did not align with NLNG’s historical dividend payments.
Onanuga said NLNG had paid approximately $21.5 billion in dividends into the Federation Account over the past 25 years, with less than $3 billion received since Tinubu assumed office.
In a statement on Sunday, Sulaimon Olanrewaju, Makinde’s Special Adviser on Media, said the Presidency had failed to address the central issue of how the dividends were shared among the tiers of government.
He explained that the Nigeria Governors’ Forum (NGF), with the Federal Government’s support, had engaged a consultant to reconcile NLNG dividend payments, with the exercise reportedly identifying a shortfall of about ₦9 trillion due to states and local governments.
According to him, the Federal Government accepted the findings, while the report remains in the custody of both the Presidency and the NGF.
“The Presidency stated that NLNG had paid $21.5 billion in dividends into the Federation Account since inception, including $3 billion received under the current administration. But it did not explain how these funds were disbursed,” the statement said.
Olanrewaju added: “Have states and local governments received their shares? How much did they receive, and how were those amounts calculated? What happened to the $3 billion received under this administration?”
He maintained that Makinde’s remarks were based on available information and not unfounded claims.
The governor’s media aide said Makinde remained willing to provide further clarification, urging the Federal Government to address the questions surrounding the distribution of NLNG dividends.