Presidency denies withholding ₦250bn in NLNG dividends from states

The Presidency rejected Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigeria LNG Limited dividends for each state until after the 2027 elections. Bayo Onanuga, the president’s special adviser on information and strategy, said the figure conflicts with historical payments: NLNG has paid about $21.5 billion in dividends to the Federation over 25 years, with less than $3 billion paid since Bola Tinubu took office. He said paying ₦250 billion to each of the 36 states would total ₦9 trillion and require more than ₦33.68 trillion in dividends from a single payout. Makinde made the allegation at a 2027 budget consultation at the University of Ibadan on Friday; the Presidency accused him of making misleading statements.