Oyo State Governor Seyi Makinde alleges Federal Government withheld ₦9tn in NLNG dividends, drawing a sharp presidential rejection.
Oyo State Governor Seyi Makinde has publicly accused the Federal Government of withholding crucial NLNG dividends allegedly due to states until after the 2027 general elections. The prominent governor claimed that these disputed financial allocations could amount to a staggering ₦250 billion per individual state, accumulating to a massive ₦9 trillion across all 36 states of the federation, according to information published by punchng.
The explosive political controversy erupted when Governor Makinde made the bold assertions during a recent public review, sparking intense nationwide debate about fiscal federalism and resource distribution. His administrative camp insists that a comprehensive reconciliation exercise successfully identified a massive financial shortfall of about ₦9 trillion, prompting urgent demands for transparency regarding how the funds were ultimately handled and distributed.
Responding swiftly to the heavy allegations, the Presidency officially rejected the claims put forward by the Oyo State leader. Federal authorities argued strongly that the numbers simply do not add up mathematically, maintaining that Nigeria LNG Limited has never historically paid out shareholder dividends on such a monumental financial scale, according to information published by punchng.
Seyi Makinde claims Federal Government withheld state funds
Governor Seyi Makinde stated that the alleged withholding of state entitlements is a deliberate political maneuver stretching past upcoming electoral cycles. The administration in Oyo State continues to demand absolute clarity from federal authorities regarding the missing ledger entries. State officials maintain that every single federating unit deserves its rightful share of the national resource revenue without unnecessary political delays.
Presidency rejects ₦9 trillion dividend calculation
Federal government representatives dismissed the ₦9 trillion calculation as entirely unrealistic and financially impossible. Spokespersons for the central administration clarified that corporate dividend disbursements from Nigeria LNG Limited do not support the massive per-state figures cited by the governor. The presidency maintains that all statutory financial allocations are managed transparently in accordance with established national laws and revenue-sharing formulas.
Reconciliation exercise reveals financial shortfalls
The political friction intensified as Makinde's economic team pointed to a detailed reconciliation exercise as the empirical basis for their alarming figures. According to the state government, this internal auditing process uncovered the disputed shortfall of approximately ₦250 billion per state. Financial analysts across Nigeria are now closely watching how this high-stakes dispute between state leadership and the federal center will evolve.
Frequently Asked Questions
What did Governor Seyi Makinde claim about NLNG dividends?
Governor Seyi Makinde claimed that the Federal Government withheld ₦9 trillion in NLNG dividends meant for the 36 states, amounting to ₦250 billion per state, until after the 2027 elections.
How did the Presidency respond to Makinde's allegations?
The Presidency rejected the ₦9 trillion claim, stating that the figures do not add up and that Nigeria LNG Limited has never paid dividends on that unprecedented scale.
What is the basis of the Oyo State government's financial figures?
Makinde's camp stated that a reconciliation exercise identified a shortfall of about ₦9 trillion, prompting their demands for transparency regarding how government revenues were distributed.
