Seyi Makinde Criticizes NLNG Fund Delay Impacting States

Oyo State Governor Seyi Makinde condemned the federal government's decision to withhold Nigeria LNG (NLNG) dividend funds intended for states, describing the delay as detrimental to subnational development and infrastructure investment. Speaking at the Year 2027 Budget Stakeholders’ Consultative Engagement in Ibadan, he noted that each state is entitled to a refund of N250 billion from the NLNG dividends, which have been postponed until after the 2027 elections.

Makinde questioned the rationale behind this delay, emphasizing that it undermines economic expansion efforts. He highlighted that Oyo State had identified strategic projects to boost its economy, which would benefit from the timely release of these funds.

The governor also pointed out the rising costs of governance and infrastructure, with Oyo State's wage bill increasing from ₦4.5 billion in 2019 to ₦18 billion in 2026. He stressed that the release of NLNG dividends is crucial for maintaining project pipelines and sustaining economic momentum.

Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, praised the governor for enhancing public consultation in the budget process.