Story details
In an October 18 statement, the Presidency rejected Oyo Governor Seyi Makinde’s claim that the Federal Government was withholding ₦250 billion in Nigeria LNG dividends for each state. Makinde had raised the issue at a 2027 budget consultation in Ibadan on Friday, October 16.
The State House said the proposed amount for 36 states would total ₦9 trillion and that, under the stated Federation Account Allocation Committee formula, states receive 26.72% of distributable revenue. It said NLNG had paid about $21.5 billion in dividends to the Federation over 25 years, with less than $3 billion since President Bola Tinubu took office. These are figures in the Presidency’s rebuttal; the release is not an independent audit.