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Dispute over Nigeria LNG dividend allocations

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2026-10-18 17:46 UTC → 2026-10-18 20:15 UTC · added ~~removed~~

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.”

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