Presidency denies withholding ₦250bn NLNG dividends per state, rejects Makinde’s claims

The presidency dismissed Mr Makinde’s claim as false. The post Presidency disputes Makinde’s claim of N250 billion NLNG dividends per state appeared first on Premium Times Nigeria.

The Presidency has dismissed Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigeria LNG Limited (NLNG) dividends for each state until after the 2027 general elections. Bayo Onanuga, Special Adviser to the President on Information and Strategy, described the claim as false, arguing that the amount cited by […] The post Presidency denies withholding ₦250bn NLNG dividends from states appeared first on Vanguard News.

The Presidency has dismissed Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding N250 billion in Nigeria Liquefied Natural Gas, NLNG, dividends for each state of the federation.   A statement issued on Sunday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, described the claim as false, urging Nigerians to disregard it.   According to the statement, the amount claimed by Makinde was inconsistent with the historical dividend payments made by NLNG to the Federation Account.   The statement reads in full: “The Presidency wishes to clarify Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in NLNG dividends for each state of the Federation.   “At the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday, Makinde claimed the funds would not be released until after the 2027 elections. He further claimed that the Federal Government had spent the money.   “Each state was supposed to get ₦250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” the governor said.   “Makinde's latest claim that the Federal Government is withholding the NLNG dividend windfall is false and should be disregarded.   “Here are the facts the public should know about how the Federation Account is managed and how money is shared among the three tiers of government. Even as a one-off distribution, ₦250 billion to each of the 36 states amounts to ₦9.0 trillion, excluding the Federal Government, the FCT, and the 774 local councils.   “Under the Federation Account Allocation Committee (FAAC) formula, states receive 26.72% of the distributable Federation Account revenue. For the states’ share alone to reach ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion (about $25 billion) in a single declaration.   “NLNG has never paid $25 billion in dividends to the Federation Account in a single payout. NLNG and Historical Dividend Context, NLNG has paid approximately $21.5 billion in dividends to the Federation over the last 25 years, with less than $3 billion realised since President Bola Ahmed Tinubu assumed office.   “Therefore, any claim that a single payout exceeds the company’s entire lifetime distribution to the Federation—and is being withheld—defies basic logic and economic reality.   “We expect Governor Makinde to be more measured in his public conduct and utterances. Since he embarked on his presidential bid, he has chosen to play politics by making misleading claims rather than presenting verifiable facts. Indeed, he has turned false, unguarded statements and claims into an art form.   “He once described the huge financial flow from the federation account to states, including Oyo, as 'voodoo'.   “Under Nigerian law, Governor Makinde is free to pursue his presidential ambition. He should desist from making falsehoods and disinformation the hallmarks of his campaign.   “We urge the public to disregard these unfounded claims, which serve only to mislead citizens and stoke needless disaffection against the Federal authorities.”

The Presidency has dismissed Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding N250 billion in Nigeria Liquefied Natural Gas, NLNG, dividends for each state of the federation. A statement issued on Sunday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, described the claim as false, urging Nigerians to […] 'You lied' - Presidency fires back at Makinde over NLNG dividends claim

The Presidency has refuted a claim by Oyo State Governor Seyi Makinde that the FG is withholding ₦250bn per state in NLNG dividends, calling it false. Read More: https://punchng.com/makindes-%e2%82%a6250bn-nlng-claim-false-presidency/

 Governor Seyi Makinde of Oyo State has accused the administration of President Bola Tinubu of spending Nigeria Liquefied Natural Gas, NLNG, dividends meant for states.   Makinde said each state was supposed to get over N250 billion from the NLNG payments.   He spoke on Friday at a stakeholders’ meeting on the 2027 budget held at the International Conference Centre in Ibadan.   The governor said the money was paid into the Federation Account and the figures had been reconciled, but that the Federal Government spent it without sharing it to states.   Enugu community accuses Forest Guard of using AK-47 to harass residents, aid land grabbers Enugu community accuses Forest Guard of using AK-47 to harass residents, aid land grabbers According to him, Oyo had already lined up projects to invest its share to grow the state’s economy.   Makinde also faulted plans to delay payment until after the 2027 elections, saying the welfare of Nigerians should come before politics.   “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.   “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,” Makinde said.

Governor Seyi Makinde of Oyo State has accused the administration of President Bola Tinubu of spending Nigeria Liquefied Natural Gas, NLNG, dividends meant for states. Makinde said each state was supposed to get over N250 billion from the NLNG payments. He spoke on Friday at a stakeholders’ meeting on the 2027 budget held at the […] Tinubu govt cornered N250bn NLNG dividends meant for states – Makinde