Presidency Rejects Makinde's Claim on NLNG Dividends

The Presidency has denied allegations made by Oyo State Governor and Allied People’s Movement presidential candidate Seyi Makinde that the federal government is withholding ₦250 billion in Nigeria LNG Limited (NLNG) dividends for each state until after the 2027 general elections. In a statement from Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, the Presidency described Makinde's claims as false and inconsistent with NLNG's historical dividend payments.

Makinde made the allegations during the 2027 Budget Stakeholders’ Consultative Engagement at the University of Ibadan, asserting that each state was entitled to ₦250 billion and that Oyo State had identified projects to enhance its economy. The Presidency countered that distributing ₦250 billion to each of the 36 states would total ₦9 trillion, which is not supported by NLNG's dividend history.

It noted that NLNG has paid approximately $21.5 billion in dividends over 25 years, with less than $3 billion since Tinubu took office.