Makinde Accuses Tinubu Govt of Withholding N250bn NLNG Dividends Due to States
Oyo State Governor Seyi Makinde has accused President Bola Tinubu’s administration of withholding dividends from Nigeria Liquefied Natural Gas (NLNG) that were expected to be distributed to state governments.
Makinde alleged that each state was due to receive more than ₦250 billion following a reconciliation of the funds, but the Federal Government spent the money instead of releasing the allocations.
The governor made the allegation on Friday during a stakeholders’ consultative meeting on Oyo State’s 2027 budget at the International Conference Centre in Ibadan.
According to Makinde, NLNG dividends were paid into the Federation Account before a consultancy exercise was conducted to reconcile the figures and determine the amount due to each state.
He said, “They fooled us. The Nigeria LNG paid dividends to the Federal Government, which went straight into the Federation Account, but they spent it.
“So, what do we do? They did the consultancy, reconciled the figures, and each state of the federation was supposed to be paid, but they spent the money alone. The Federal Government spent it alone.”
The governor said his administration had identified projects that could be funded with the expected allocation to stimulate economic growth in Oyo State.
“Each state should receive more than N250 billion but Tinubu cornered it. We were planning towards this, identified projects that we can invest the money in to further expand the economy of Oyo State,” he said.
Makinde also criticised the reported plan to delay payment of the funds until after the 2027 general election, questioning whether the election should take precedence over the welfare of Nigerians.
“Now, they say they are not going to pay that money until after the election. Is the election more important than the people of Nigeria?” he asked.
He suggested that the delay could be linked to concerns that state governors might use the funds to support political opponents of the ruling party.
“Well, maybe they felt that when they pay the money to the states, the governors may have control over it and use it to work against you. Even at that, are you saying the election is more important than the people of Nigeria? Even if they use the money to work against you, is it your money?” he said.
The governor maintained that the funds would help states finance development projects and expand their economies.
The allegations could not be independently verified, and no response from the Federal Government addressing Makinde’s claims was available in the material reviewed.
