Makinde Accuses Tinubu Government Of Withholding ₦250bn NLNG Dividends To States Until After 2027 Elections

Makinde Accuses Tinubu Government Of Withholding ₦250bn NLNG Dividends To States Until After 2027 Elections

Oyo State Governor Seyi Makinde has accused the Federal Government of withholding an alleged ₦250 billion in dividend payments from Nigeria LNG Limited (NLNG) due to states until after the 2027 general elections.

The allegation raises questions about the timing of the payments, the distribution of revenue due to the states and the transparency of public financial management ahead of the next general elections.

Makinde’s allegation, however, requires clarification from the Federal Government regarding the status of the reported funds, the basis for the alleged withholding and the mechanism through which the money is expected to be distributed.

Nigeria LNG Limited is a major player in the country’s gas industry, with the Federal Government holding a 49 per cent stake in the company. NLNG has previously reported substantial dividend payments to its shareholders.

If established, the allegation that payments due to states are being deliberately delayed for electoral reasons would raise serious concerns about the administration of public revenue and the relationship between federal fiscal decisions and the interests of state governments.

The Federal Government would need to clarify whether the ₦250 billion represents declared dividends, outstanding payments, anticipated revenue or funds already approved for distribution.

It would also be important to establish whether the alleged delay affects all states, how the amount was calculated and what official arrangements govern the payment and distribution of the funds.

As of publication, the specific allegation that the Tinubu administration intends to delay the payments until after the 2027 elections has not been independently verified.

The Federal Government’s response, together with relevant financial records and official statements from NLNG and the appropriate revenue-distribution authorities, would be necessary to establish the facts surrounding the claim.

The Analyst will continue to seek clarification on the allegation and the status of the reported ₦250 billion.