Oyo State Governor Seyi Makinde has alleged that the Federal Government under President Bola Tinubu spent Nigeria LNG dividend payments that were meant to be distributed to states, saying each state was expected to receive more than ₦250 billion.

 

Makinde made the allegation on Friday at a stakeholders’ meeting on the 2027 budget held at the International Conference Centre in Ibadan, according to reports by New Telegraph and The Realm Media.

According to the governor, the NLNG dividends were paid to the Federal Government and lodged directly into the Federation Account, and the figures had already been reconciled, but the money was spent without being shared with the states.

He said Oyo State had already identified projects it intended to fund with its expected share in order to expand the state’s economy.
“They fooled us. The Nigeria LNG paid dividends to the Federal Government, which went straight into the Federation Account, but they spent it,” Makinde said.

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“So, what do we do? They did the consultancy, reconciled the figures, and each state of the federation was supposed to be paid, but they spent the money alone. The Federal Government spent it alone.

“Each state should receive more than N250 billion but Tinubu cornered it. We were planning towards this, identified projects that we can invest the money in to further expand the economy of Oyo State.”

Makinde also faulted suggestions that the payment could be deferred until after the 2027 general elections, arguing that the welfare of Nigerians should take precedence over political considerations.

The reports did not include an immediate reaction from the Presidency or the Federal Government to the allegation.

The allegation is distinct from a separate claim by Minister of the Federal Capital Territory Nyesom Wike that President Tinubu provided ₦50 billion to support the upgrade of the Ibadan Airport.

Makinde rejected that claim, insisting the airport project was being financed entirely by the Oyo State Government.

Makinde, who is the governorship candidate of the Allied Peoples Movement for the 2027 election, has previously accused the Tinubu administration of spending NLNG dividends meant for states.