Presidency, Oyo Gov Bicker Over Allegations of Withholding N250bn NLNG Dividend Due Each State
.FG says report is false and should be disregarded .Describes as basically illogical and lacking economic reality the claim that a supposed single payout exceeds company’s entire 25 years lifetime
The Presidency of Nigeria and Oyo State Governor Seyi Makinde are at odds over allegations that the federal government withheld N250 billion in NLNG dividends due to each state. The Presidency dismissed the claim as false, stating that a single payout of N250 billion for all 36 states would amount to N9 trillion, which exceeds the total NLNG dividends paid into the Federation Account in a single declaration.
Makinde, however, maintains his claims and is demanding a breakdown of how the $3 billion NLNG revenue from President Bola Tinubu's government was distributed among the three tiers of government. The Presidency asserts that any claim of a single payout exceeding the company's entire lifetime distribution to the Federation is illogical and defies economic reality.
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