Presidency Fights Back Over Makinde’s ₦250 Billion NLNG Claim

A sharp political and economic feud has erupted between the Presidency and Oyo State Governor Seyi Makinde over the management and disbursement of Nigeria Liquefied Natural Gas (NLNG) dividends.

Governor Makinde’s Allegations

Speaking at the 2027 Budget Stakeholders’ Consultative Engagement held at the International Conference Centre, University of Ibadan, Governor Makinde—who also serves as the Vice-Chairman of the Nigeria Governors’ Forum (NGF)—accused the Federal Government of withholding a massive financial windfall meant for the states.

“Each state was supposed to get ₦250 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?”

— Gov. Seyi Makinde

Key points raised by Governor Makinde include:

• Withheld Allocation: The Federal Government allegedly spent or withheld ₦250 billion due to each of Nigeria’s 36 states from NLNG dividend earnings.
• Political Delay: The funds were being withheld for political leverage, with payment deferred until after the 2027 general elections.
• ₦9 Trillion Shortfall: Makinde referenced a reconciliation report shared between the Federal Government and the Nigeria Governors’ Forum, claiming it acknowledged an aggregate ₦9 trillion shortfall owed to states and local government councils.

The Presidency’s Rebuttal

The Presidency swiftly pushed back against the claims in an official statement released by Bayo Onanuga, Special Adviser to the President on Information and Strategy, describing the governor’s assertions as false and “defying basic logic and economic reality.”

Key Arguments from the Presidency:

• Math & Fiscal Reality: The Presidency pointed out that allocating ₦250 billion to each of the 36 states would total ₦9.0 trillion—a figure that excludes the Federal Government, the Federal Capital Territory (FCT), and the 774 Local Government Areas. Under the existing FAAC revenue-sharing formula, states receive a 26.72% share of distributable Federation Account revenue.
• Misleading Political Campaigning: The Presidency urged Nigerians to disregard the claims, cautioning Governor Makinde against using false narrative devices for political alignment ahead of the 2027 election cycle.
• Call for Verifiable Records: Federal officials emphasized that public discourse surrounding Federation Account allocations should rely strictly on audited and published FAAC distribution records.

Makinde’s Camp Responds

Standing by the statements, Governor Makinde’s team maintained that the Presidency failed to address the central issue—demanding a transparent breakdown of how the $3 billion in NLNG revenuesaccrued under President Bola Tinubu’s administration was calculated and shared across federal, state, and local government tiers.