From Allafrica · · 3m
Nigeria: Presidency, Makinde At 'War' Over N250bn NLNG Dividend
Nigeria's president and Oyo State governor clash over $25bn NLNG dividend claims.
In brief
Nigeria's president and Oyo State governor clash over $25bn NLNG dividend claims. Nigeria's president denies withholding N250bn NLNG dividend for states, while governor claims federal government is delaying payments until 2027 elections. Originally reported by Allafrica.
Presidency denies NLNG dividend withholding
The Presidency described Seyi Makinde's claim that the federal government was withholding N250 billion in NLNG dividend windfall as false and asked it be disregarded.
“Makinde's latest claim that the federal government is withholding NLNG dividend windfall is false and should be disregarded.”
Makinde claims federal government withholding funds
Governor Makinde alleged the federal government was withholding N250 billion in NLNG dividends for each state until after the 2027 elections.
“The federal government had spent the money.”
Presidency's financial calculation
The Presidency stated that N250 billion to each of 36 states would amount to N9 trillion, excluding the federal government, FCT and 774 local councils.
“Even as a one-off distribution, N250 billion to each of the 36 states amounts to N9.0 trillion, excluding the Federal Government, the FCT and the 774 local councils.”
NLNG dividend history
NLNG has never paid $25 billion in dividends to the Federation Account in a single payout, having paid approximately $21.5 billion over the last 25 years.
“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.”
Makinde's voodoo economy claim
Makinde accused the President of running a voodoo economy where government thrives on lies and national fortunes improve only on paper.
“He has maintained a clean, issue-based campaign devoid of mudslinging, misinformation, disinformation and propaganda for which the APC is known.”
Makinde demands explanation
Makinde challenged the Presidency to explain how NLNG dividends were distributed, insisting a reconciliation exercise identified an alleged N9 trillion shortfall.
“The report remains in the custody of both the federal government and the NGF. We trust the Presidency will not deny its existence.”
Presidency's response to shortfall
The Presidency stated that the N9 trillion shortfall claim was unfounded and that NLNG had paid $21.5 billion to the Federation Account over the last 25 years.
“NLNG has never paid $25 billion in dividends to the Federation Account in a single payout.”
Makinde's campaign defends claim
Makinde's campaign stated the Presidency was avoiding core issues and that the N9 trillion shortfall was confirmed by a reconciliation exercise.
“The report remains in the custody of both the federal government and the NGF. We trust the Presidency will not deny its existence.”
Presidency's constitutional challenge
The Presidency questioned whether it had constitutional powers to withhold funds accruing to states in a Federation.
“Does the Presidency has any constitutional powers to withhold any funds accruing to the states in a Federation?”
Makinde's campaign demands transparency
Makinde's campaign called for the Presidency to publish NLNG dividend receipts and Federation Account Allocation Committee decisions.
“We challenge the Presidency to publish the relevant NLNG dividend receipts, Federation Account Allocation Committee, FAAC, decisions and official communications establishing the amounts received, the sums approved for distribution and the timing of the proposed payments to states.”
Presidency's stance on accountability
The Presidency emphasized that demanding accountability for public funds is a civic right in Nigeria's democracy.
“The Presidency appears carried away by its own display of imperial grandeur, forgetting that Nigeria remains a democracy in which demanding accountability for public funds is a civic right, not an offence.”
Makinde's campaign challenges presidential ambition
Makinde's campaign stated that President Tinubu's administration was jittery over his rising popularity and the RESET NIGERIA Agenda.
“The Tinubu Presidency is disturbed because Nigerians have identified Engr Makinde as a credible alternative to President Tinubu, leading to the massive surge to his campaign and the APM.”
Presidency's call for measured conduct
The Presidency urged Makinde to be more measured in his public conduct and avoid making false claims.
“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.”
Makinde's campaign defends integrity
Mak's campaign stated that Makinde is known for integrity and does not engage in propaganda or disinformation.
“Engr. Makinde, the governor of Oyo State and Presidential candidate of the APM is known for his integrity. He is not given to propaganda and disinformation which are the known stock-in-trade and policy direction of the Tinubu-led All Progressives Congress, APC, administration.”
Current dispute resolution
The dispute remains unresolved as both sides demand transparency and accountability over NLNG dividend distribution.
“We remain ready to provide further clarification while we urge the Presidency to address the substance of the matter.”
The main idea
Nigeria's president denies withholding N250bn NLNG dividend for states, while governor claims federal government is delaying payments until 2027 elections.
