The Presidency has described as false the claim by Oyo State Governor Seyi Makinde that the Federal Government is withholding N250 billion in Nigeria LNG Limited dividends for each state until after the 2027 elections.
CDA News Nigeria reports that the Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a Sunday statement, said the figure would exceed NLNG’s entire lifetime payout to the Federation. Onanuga explained that N250 billion for each of the 36 states would amount to N9 trillion, excluding the Federal Government, the FCT and the 774 local councils.
According to the Presidency, under the Federation Account Allocation Committee formula, states receive 26.72 per cent of distributable revenue, meaning total NLNG dividends would have to exceed N33.68 trillion (about $25 billion) in a single declaration. It noted that NLNG has paid approximately $21.5 billion over 25 years, with less than $3 billion realised since President Bola Tinubu assumed office.
CDA News Nigeria gathered that Makinde, the presidential candidate of the All Progressives Congress, made the claim on Friday at the 2027 Budget Stakeholders’ Consultative Engagement at the University of Ibadan, asking whether the election was more important than the people of Nigeria.
In a swift reply, Makinde’s Special Adviser (Media), Dr Sulaimon Olanrewaju, said the Presidency sidestepped the central issue. He stated that the Nigeria Governors’ Forum, with Federal Government support, engaged a consultant that identified a shortfall of about N9 trillion due to states and local governments, with the report in the custody of both the FG and the NGF.
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