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[SITUATION] · [QUIET] · [POLITICS]

2 clusters · 28 sources · 3 days · First seen 11 days ago · Last updated 9 days ago

Dispute over Nigeria LNG dividend allocations

Overview

Oyo State Governor Seyi Makinde raised concerns regarding the withholding of Nigeria LNG (NLNG) dividends intended for state governments. Makinde alleged that the Federal Government is withholding ₦250 billion per state and suggested these funds would not be released until after the 2027 general elections. He argued that this delay undermines subnational development and infrastructure investment, asking, “Is the election more important than the people of Nigeria?”

The Nigerian Presidency has dismissed these allegations. Presidential spokesperson Bayo Onanuga stated that the claims are “economically implausible,” noting that a ₦250 billion payout to each of the 36 states would require a total distribution of ₦9 trillion. Onanuga clarified that such a payout would necessitate NLNG paying over ₦33.68 trillion in a single declaration, whereas historical data shows NLNG has paid approximately $21.5 billion in dividends to the Federation over the last 25 years.

During a budget stakeholders’ engagement in Ibadan, Makinde further alleged that the withheld funds, intended for economic expansion projects, had already been spent by the central government. In response, Onanuga noted that under the Federation Account Allocation Committee (FAAC) formula, where states receive 26.72 percent of distributable revenue, the total NLNG dividend would need to exceed ₦33.68 trillion in a single payout to reach the ₦9 trillion threshold. He added that less than $3 billion has been realized since President Bola Tinubu took office, describing the Governor’s claims as “misleading.”

Entities

Oyo State · Nigeria LNG Limited · Seyi Makinde · Federation Account Allocation Committee · Bayo Onanuga

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] Governor Seyi Makinde claimed each state is owed ₦250 billion in NLNG dividends.
[● 3 SOURCES] Governor Makinde alleged the Federal Government is withholding these funds until after the 2027 elections.
[● 3 SOURCES] The Presidency dismissed the governor's claims as false and economically implausible.
[● 3 SOURCES] Distributing ₦250 billion to 36 states would total ₦9 trillion, excluding other government tiers.
[● 3 SOURCES] States receive 26.72 percent of distributable revenue from the Federation Account Allocation Committee.
[● 3 SOURCES] NLNG has never made a single dividend payment of $25 billion to the Federation Account.
[● 2 SOURCES] NLNG has paid approximately $21.5 billion in dividends to the Federation over the last 25 years.

Timeline

9 days ago

[POLITICS] 24 sources
Nigeria Presidency disputes Makinde's NLNG dividend claims
The Nigerian Presidency has rejected Oyo State Governor Seyi Makinde's claim that the federal government is withholding ₦250 billion in NLNG dividends from each state until after the 2027 elections.
11 days ago

[POLITICS] 6 sources
Governor Makinde questions delay of ₦250bn NLNG dividends
Oyo State Governor Seyi Makinde has criticized the Federal Government for allegedly withholding ₦250 billion in NLNG dividends from states until after the 2027 elections, citing risks to infrastructure and much

Sources

ait.live · authorityngr.com · businessday.ng · dailyreport.ng · dailytrust.com.ng · environewsnigeria.com · gistlover.com · gwg.ng · insideoyo.com · lagostelevision.com · nairametrics.com · nationalaccordnewspaper.com · newscentral.africa · newtelegraphng.com · osundefender.com · phenomenal.com.ng · premiumtimesng.com · punchng.com · puoreports.ng · qed.ng · realnewsmagazine.net · silverbirdtv.com · tgnews.com.ng · thepodiummedia.com · thetidenewsonline.com · thewhistler.ng · von.gov.ng · zalebs.com

This summary has been updated 1 time: see revision history