🔥 ₦250 BILLION BOMBSHELL! Presidency Fires Back at Makinde Over Alleged Withheld NLNG Dividends.

By Desmond

VIEW: A major political controversy has erupted after Oyo State Governor Seyi Makinde alleged that the Federal Government was withholding ₦250 billion in Nigeria LNG (NLNG) dividends meant for each state until after the 2027 general elections. However, the Presidency has strongly rejected the allegation, describing it as false and demanding greater accuracy in public statements.

Presidency Rejects Makinde's Allegation

A fresh political controversy has emerged in Nigeria following a disagreement between the Presidency and Oyo State Governor Seyi Makinde over alleged NLNG dividend payments to the country's 36 states.

The dispute intensified after Makinde reportedly claimed that each state was entitled to ₦250 billion in NLNG dividends, alleging that the Federal Government had delayed the release of the funds until after the 2027 general elections.

The governor made the allegation while speaking at the 2027 Budget Stakeholders' Consultative Engagement held at the International Conference Centre in Ibadan, Oyo State.

According to reports, Makinde expressed concern that the alleged delay could affect development projects that state governments had already planned.

He questioned why the release of the funds should be connected to the forthcoming elections, arguing that the welfare of Nigerians should remain the government's priority.

However, the Presidency swiftly responded to the allegation, rejecting the claim and insisting that the figures presented by the governor were inconsistent with the history of NLNG dividend payments.

In a statement issued on Sunday, October 18, 2026, the Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, described the allegation as false and urged Nigerians to disregard it.

Presidency Explains Its Position

The Presidency argued that distributing ₦250 billion to each of Nigeria's 36 states would amount to ₦9 trillion.

It maintained that the amount claimed by Makinde was inconsistent with the historical dividend payments made by Nigeria LNG Limited to the Federation.

Onanuga stated that NLNG had paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion reportedly received since President Tinubu assumed office.

The Presidency therefore questioned the basis of the governor's claim and challenged him to be more careful when making statements on sensitive national financial matters.

The disagreement has generated renewed debate about government revenue, the distribution of funds among the different levels of government and the importance of transparency in public finance.

Political Tensions Ahead of 2027 Elections

The controversy comes as political activities gradually intensify ahead of Nigeria's 2027 general elections.

Makinde, who has declared his presidential ambition under the Allied Peoples Movement, has increasingly featured in national political discussions.

The latest disagreement has therefore attracted attention beyond Oyo State, particularly because it concerns the financial relationship between the Federal Government and state administrations.

Questions surrounding revenue allocation and the management of public funds remain important to Nigerians, especially as governments face pressure to provide infrastructure, improve public services and address economic challenges.

However, the allegation that the funds are being withheld until after the elections remains disputed. The Presidency has denied the claim, and the available reports do not independently establish that the alleged ₦250 billion payment was due to each state.

Further clarification from the relevant authorities would help Nigerians better understand the figures involved and how NLNG dividends are distributed.

For now, the disagreement between the Presidency and the Oyo State governor has placed government revenue and accountability at the centre of another major political debate.

Source: Premium Times, Punch Newspapers and The Guardian Nigeria.