NLNG Dividends: Makinde Challenges Presidency, Demands Answers On ₦9tn Shortfall

By Victoria Isaac 

Oyo State Governor, Seyi Makinde, has challenged the Federal Government to account for an alleged ₦9 trillion shortfall in Nigeria LNG (NLNG) dividend payments due to state and local governments, insisting that his position is backed by the findings of a reconciliation exercise.

Makinde, through his Special Adviser on Media, Dr Sulaimon Olanrewaju, restated his position in response to a statement issued by the Presidency, accusing it of failing to address the central issue surrounding the alleged shortfall.

Olanrewaju explained that the Nigeria Governors’ Forum (NGF), with the support of the Federal Government, engaged a consultant to reconcile NLNG dividend payments and determine the amounts due to states and local governments.

“The exercise identified a shortfall of about ₦9 trillion due to states and local governments. The Federal Government accepted the findings.”

He added that the report remained in the custody of both the Federal Government and the NGF, expressing confidence that the Presidency would acknowledge its existence.

“The report remains in the custody of both the Federal Government and the NGF. We trust the Presidency will not deny its existence.”

The media aide also noted that Makinde currently serves as the NGF’s Vice-Chairman, reinforcing his position within the forum at the centre of the reconciliation exercise.

Olanrewaju further questioned the Presidency’s disclosure that NLNG had paid $21.5 billion in dividends into the Federation Account since the company’s inception, including $3 billion received under the current administration.

He argued that the Presidency’s statement failed to clarify how the funds were distributed among the three tiers of government or establish whether states and local governments had received their respective entitlements.

“The Presidency stated that NLNG had paid $21.5 billion in dividends into the Federation Account since inception, including $3 billion received under the current administration. But it did not explain how these funds were disbursed.”

He pressed the Federal Government to provide details of the disbursements, asking:

“Have states and local governments received their shares? How much did they receive, and how were those amounts calculated? What happened to the $3 billion received under this administration?”

Defending the governor’s position, Olanrewaju maintained that Makinde’s public statements were based on evidence rather than speculation, insisting that the figures cited by the governor had a verifiable basis.

“Governor Makinde conducts public discourse with decorum and does not make unfounded claims or quote figures without a basis.”

He said the governor remained willing to provide further clarification on the matter but urged the Presidency to address the substantive questions surrounding the alleged shortfall.

“We remain ready to provide further clarification while we urge the Presidency to address the substance of the matter,” the governor’s media aide declared.