The Presidency has dismissed Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in NLNG dividends for each state until after the 2027 elections.
In a statement, the President’s Special Adviser on Information and Strategy, Bayo Onanuga, described the claim as false and misleading, noting that ₦250 billion for each of the 36 states would amount to ₦9 trillion.
He explained that under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable revenue, meaning NLNG would have needed to pay over ₦33.68 trillion in dividends for states to receive the claimed amount.
Onanuga added that NLNG has paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion realised since President Bola Tinubu assumed office.
The Presidency urged Makinde to exercise restraint and desist from making what it described as false claims and disinformation.
