UPDATE: Makinde Challenges Presidency Over Alleged ₦9tn NLNG Dividend Shortfall
Mirian Gom 
OYO State Governor, Seyi Makinde
OYO, Nigeria – Oyo State Governor Seyi Makinde has challenged the Presidency to explain how Nigeria LNG Limited (NLNG) dividend payments into the Federation Account have been distributed, renewing his allegation that states and local governments are owed substantial sums.
The dispute followed the Presidency’s rejection of Makinde’s claim that the Federal Government was withholding ₦250 billion in NLNG dividends for each state until after the 2027 general election.
He said the anticipated funds would have enabled Oyo State to finance projects intended to expand its economy. “Each state was supposed to get ₦250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” he said.
However, presidential spokesman Bayo Onanuga rejected the allegation in a statement on Sunday, describing it as false. “Makinde’s latest claim that the Federal Government is withholding the NLNG dividend windfall is false and should be disregarded,” Onanuga said.
The Presidency also argued that NLNG had never paid $25 billion in dividends to the Federation Account in a single payout.
Responding through a statement signed by his Special Adviser on Media, Sulaimon Olanrewaju on Monday, Makinde said the Presidency had failed to address what he described as the central issue: the reconciliation of NLNG dividend payments and the distribution of the proceeds among the three tiers of government.
The statement said the Federal Government had accepted the findings and that the report remained in the custody of both the Federal Government and the governors’ forum.
The Presidency had stated that NLNG had paid $21.5 billion in dividends into the account since its inception, including $3 billion received under the current administration.
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Korede Abdullah