Where is NLNG dividend?
The dispute between the Federal Government and Oyo State Governor Seyi Makinde over Nigeria LNG Limited (NLNG) dividends has brought renewed attention to the management of the country’s gas revenues, the distribution of proceeds to states and local governments, and questions over whether all funds due to the subnational governments have been fully accounted for, […]
The Federal Government and Oyo State Governor Seyi Makinde are locked in a dispute over the distribution of dividends from Nigeria LNG Limited (NLNG). The disagreement centers around the amount of money owed to subnational governments and whether all funds due to them have been properly accounted for. The Presidency maintains that NLNG has paid $21.5 billion in dividends over 25 years, but Makinde claims there is an accumulated shortfall of about N9 trillion.
The controversy has raised questions about the revenue-sharing framework and the accuracy of historical payments.
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