Oyo State Governor Seyi Makinde has alleged that the Federal Government is withholding ₦250 billion in Nigeria LNG dividends intended for each state until after the 2027 general election. The Presidency has rejected the claim, arguing that the figures are inconsistent with the known scale of NLNG’s dividend payments.
The arithmetic raises serious questions. Paying ₦250 billion to each of Nigeria’s 36 states would require ₦9 trillion for the states alone. Based on the Federation Account allocation formula cited by the Presidency, the total distributable revenue would have to exceed ₦33.68 trillion for the states to receive that amount.
The Presidency says NLNG has paid approximately $21.5 billion in dividends to the Federation over 25 years. Makinde’s camp has responded by demanding publication of the relevant dividend receipts, Federation Account Allocation Committee decisions and official communications.
The Presidency’s figures make the claim of a single ₦250 billion entitlement for every state difficult to sustain as presented. However, the public should not have to settle a dispute over national revenue through competing political statements. The specific records would establish what was received, what was approved for distribution and whether any payment was delayed or withheld.
Both sides should produce verifiable evidence. The Presidency should publish the relevant financial records, while Makinde should provide the documents supporting his allegation.
Public revenue is too important to become a contest of accusations without documentary proof.
By Viewers Corner News