Nigeria: Presidency, Makinde At 'War' Over N250bn Nlng Dividend
[Vanguard] ABUJA -- THE Presidency yesterday described as false Oyo State governor, Seyi Makinde's latest claim that the federal government was withholding N250 billion in NLNG dividend windfall for each state of the federation, asking that it be disregarded.
ABUJA - The Nigerian federal government has dismissed claims by Oyo State Governor Seyi Makinde that the government is withholding N250 billion in NLNG dividend payments for each state of the federation. Makinde, who is contesting the 2027 presidential election, made the allegation during a budget stakeholders consultation in Ibadan.
The Presidency stated that any claim of a one-time payout exceeding the company's entire lifetime distribution to the federation is illogical and defies economic reality. NLNG has only paid approximately $21.5 billion in dividends to the Federation Account over the past 25 years, with less than $3 billion realized since President Bola Ahmed Tinubu took office.
The Presidency emphasized that Makinde's claims do not reflect the actual distribution of funds and urged the public to disregard such unverified assertions.
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