Presidency Refutes Makinde's N250 Billion NLNG Dividend Claim

The Presidency has dismissed claims made by Oyo State Governor Seyi Makinde that the Federal Government is withholding N250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends intended for each of the 36 states. Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, stated that the allegation is false and inconsistent with NLNG's financial records.

Makinde, who is also the Allied Peoples Movement (APM) presidential candidate for the 2027 general election, made his comments during a Budget Stakeholders’ Consultative Engagement at the University of Ibadan on October 16, 2026. The Presidency explained that distributing N250 billion to each state would require N9 trillion, excluding allocations to the Federal Government, FCT, and local governments.

NLNG has paid approximately $21.5 billion in dividends over 25 years, with less than $3 billion received since Tinubu took office in May 2023. The controversy arose after Makinde accused the Federal Government of delaying payments for infrastructure and economic development until after the 2027 elections.