Abuja, Nigeria — The Presidency has dismissed claims by Oyo State Governor Seyi Makinde that the Federal Government is withholding ₦250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends for each state of the federation, describing the allegation as false.
In a press statement issued on Sunday, October 18, 2026, President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, challenged the figures cited by Makinde and explained the government’s position on the distribution of NLNG dividend proceeds through the Federation Account.
Makinde had made the claim during the 2027 Budget Stakeholders’ Consultative Engagement at the International Conference Centre, University of Ibadan, where he alleged that the funds had been withheld until after the 2027 general elections.
The governor said his administration had already identified projects that would benefit from the expected allocation and questioned why the release of the money should be delayed.
However, the Presidency argued that distributing ₦250 billion to each of Nigeria’s 36 states would amount to ₦9 trillion, excluding allocations to the Federal Government, the Federal Capital Territory and the 774 local government areas.
According to Onanuga, under the Federation Account Allocation Committee (FAAC) revenue-sharing formula cited in the statement, states collectively receive 26.72 per cent of distributable Federation Account revenue.
He said that for the states’ share alone to reach ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion, equivalent to approximately $25 billion, in a single declaration.
The presidential aide further stated that NLNG had paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion realised since Tinubu assumed office.
Onanuga maintained that these figures contradicted the claim that a single dividend payout could generate ₦250 billion for every state.
The statement also criticised Makinde’s public comments, accusing him of making misleading claims amid his reported presidential ambition. The Presidency urged Nigerians to disregard what it described as unfounded allegations.
Makinde’s original position, however, was that the dividend figures had been reconciled and that the states were expecting their respective shares. The central dispute concerns the amount available for distribution, the allocation process and the alleged delay in releasing the funds.
The competing claims have brought renewed attention to the management of Federation Account revenues and the distribution of funds among Nigeria’s three tiers of government.
