Presidency rejects Makinde’s ₦250bn-per-state NLNG claim

The Presidency has rejected Oyo State Governor Seyi Makinde’s claim that each of Nigeria’s 36 states is owed more than ₦250 billion in Nigeria LNG dividend proceeds, saying the figure is incompatible with revenue-sharing rules and the company’s recorded payments to the Federation. Makinde made the allegation at Oyo State’s 2027 Budget Stakeholders Consultative Engagement in Ibadan. He said NLNG dividends had been paid into the Federation Account but spent by the Federal Government instead of being distributed to states. He also claimed the amount due to each state had been reconciled at more than ₦250 billion and would not be released until after the 2027 general elections. Presidential adviser Bayo Onanuga disputed the claim in a statement, arguing that a payment of ₦250 billion to each state would total ₦9 trillion for the states alone. That sum would not include allocations to the Federal Government, the Federal Capital Territory or local governments, he said. Onanuga cited the Federation Account Allocation Committee formula, under which states receive 26.72% of distributable revenue. He argued that the Federation Account would have needed to receive more than ₦33.68...