Governor Makinde questions delay of ₦250bn NLNG dividends

Oyo State Governor Seyi Makinde has raised concerns regarding the withholding of Nigeria LNG (NLNG) dividend funds intended for state governments. Makinde stated that each state is entitled to ₦250 billion from these proceeds, but alleged that the Federal Government has indicated the funds will not be released until after the 2027 general elections.

Speaking at a budget stakeholders' engagement in Ibadan, the Governor argued that the delay undermines subnational development planning and long-term infrastructure investment. He noted that Oyo State had already identified strategic projects to accelerate economic growth that depend on these funds. Makinde questioned whether electoral considerations were being prioritized over national development, asking, “Is the election more important than the people of Nigeria?”

The Governor further highlighted the fiscal pressures facing states, noting that rising governance costs and inflation have increased the burden on state budgets. He cited Oyo State’s wage bill growth from ₦4.5 billion in 2019 to ₦18 billion in 2026 as an example of the mounting financial challenges that the NLNG dividends could help mitigate.