The Presidency has dismissed claims by Oyo State Governor and Allied Peoples Movement (APM) presidential candidate, Seyi Makinde, that the Federal Government is withholding ₦250 billion in Nigeria LNG Limited (NLNG) dividend payouts for each state until after the 2027 general elections.
In a statement released on Sunday, the Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, labeled the allegation false and urged members of the public to disregard it.
Governor Makinde made the assertion on Friday during the 2027 Budget Stakeholders’ Consultative Engagement at the International Conference Centre, University of Ibadan. The governor claimed that each state of the federation was allocated ₦250 billion from an NLNG dividend windfall, alleging that the Federal Government had withheld and spent the funds, delaying disbursement until after the 2027 elections.
Refuting the claim, the Presidency noted that a payout of ₦250 billion to all 36 states would total ₦9 trillion, requiring total NLNG dividend declarations in excess of $25 billion in a single distribution—an amount that exceeds NLNG’s lifetime dividend payout to the Federation over the past 25 years.
The statement maintained that the allegation defies economic reality and statutory revenue-sharing arrangements, reassuring citizens of the Federal Government’s commitment to fiscal transparency and timely distribution of federation revenues.
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