By SCM Business Desk I Friday, Oct. 18, 2026
IBADAN — The Oyo State Governor, Engineer Seyi Makinde, has doubled down on his claim that the Federal Government is withholding billions of Naira in Nigeria Liquified Natural Gas (NLNG) dividend payments due to state and local governments, insisting that a reconciliation exercise exposed a shortfall of about ₦9 trillion.
Reacting to a statement from the Presidency regarding the matter, Governor Makinde, through his Special Adviser on Media, Dr. Sulaimon Olanrewaju, accused the Federal Government of sidestepping the core issues surrounding the distribution of the NLNG revenue.
According to the Oyo State government, the Nigeria Governors’ Forum (NGF)—where Makinde serves as Vice-Chairman—jointly engaged a consultant with the Federal Government to reconcile NLNG dividend payments. The outcome of that audit identified a ₦9 trillion shortfall owed to states and local councils, a finding Makinde said was accepted by the Federal Government.
”The report remains in the custody of both the Federal Government and the NGF. We trust the Presidency will not deny its existence,” Olanrewaju stated in a press release issued on Sunday.
While acknowledging the Presidency’s admission that the NLNG had paid $21.5 billion into the Federation Account since inception—including $3 billion under the current administration—the Oyo Governor noted that the central issue remains how those funds were shared among the three tiers of government.
”The Presidency did not explain how these funds were disbursed,” the statement read. “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 track record, the statement emphasized that Makinde conducts public discourse with decorum and does not make unfounded claims or quote figures without factual basis.
The governor’s team urged the Presidency to address the substance of the matter by providing a transparent accounting of the funds rather than issuing evasive responses, adding that it remains prepared to offer further clarifications on the controversy.
