OYO State Governor, Eng Seyi Makinde, has accused President Bola Tinubu’s administration of spending dividend payments from Nigeria LNG Limited (NLNG) without distributing the funds to state governments, alleging that each state was entitled to more than N250 billion.
Makinde made the allegation on Friday during a stakeholders’ meeting on Oyo State’s 2027 budget at the International Conference Centre in Ibadan.
According to the governor, the NLNG dividends were paid into the federation account, and a reconciliation of the amounts due to the different tiers of government had been completed. He alleged, however, that the Federal Government spent the money instead of sharing it with the states.
“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.
He added that the figures had been reconciled and each state was expected to receive more than N250 billion.
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“Each state should receive more than N250 billion, but Tinubu cornered it,” the governor said.
Makinde said his administration had already identified projects that would have benefited from the expected allocation, adding that the money could have been invested in initiatives to expand Oyo State’s economy.
The governor also criticised suggestions that payment of the funds could be delayed until after the 2027 general elections, arguing that the welfare of Nigerians should take precedence over political considerations.
He said the expected allocation would have enabled his administration to plan additional investments in the state’s development.
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The allegation raises questions about the distribution of NLNG dividend proceeds and the process through which funds paid into the federation account are allocated among the federal, state and local governments.
The Federal Government’s position on Makinde’s claims, including the alleged expenditure of the funds and the proposed timing of any payments to states, was not contained in the governor’s remarks as reported.
