Presidency Denies Makinde's Claims on NLNG Dividends

The Presidency has responded to Governor Seyi Makinde's assertion that the Federal Government is withholding N250 billion in NLNG dividends for each state until after the 2027 elections. At the 2027 Budget Stakeholders' Consultative Engagement on October 19, 2026, held at the University of Ibadan, Makinde, who is the presidential candidate of the Allied Peoples Movement, claimed the funds were already spent by the Federal Government.

In a rebuttal, presidential spokesperson Bayo Onanuga stated that Makinde's claims are false and should be disregarded. He explained that for each state to receive N250 billion, the total NLNG dividends would need to exceed N33.68 trillion, which has never occurred.

Onanuga noted that NLNG has paid approximately $21.5 billion in dividends over 25 years, with less than $3 billion since President Bola Tinubu took office. He urged Makinde to refrain from making misleading statements as part of his presidential campaign.