IBADAN: Governor Seyi Makinde of Oyo State has maintained his claim that states and local governments are owed approximately ₦9 trillion in Nigeria LNG (NLNG) dividend payments, challenging the Presidency to explain how the funds received by the Federal Government were distributed.
In a press statement issued on October 18, 2026, Dr Sulaimon Olanrewaju, Special Adviser on Media to the governor, said the Presidency’s response to Makinde’s earlier remarks failed to address the central issue of the alleged outstanding payments.
According to the statement, the Nigeria Governors’ Forum (NGF), with the support of the Federal Government, engaged a consultant to reconcile NLNG dividend payments to the federation.
The exercise reportedly identified a shortfall of about ₦9 trillion owed to states and local governments, with the Federal Government said to have accepted the findings.
The Oyo State Government added that the reconciliation report remains in the custody of both the Federal Government and the NGF, expressing confidence that the Presidency would not deny its existence.
Makinde is the incumbent Vice-Chairman of the Nigeria Governors’ Forum.
The governor’s media aide also questioned the Presidency’s statement that NLNG had paid $21.5 billion in dividends into the Federation Account since the company began operations, including $3 billion received under the current administration.
Olanrewaju argued that announcing the total amount received was not enough without providing details of how the money was distributed among the relevant tiers of government.
The statement raised several questions, including whether states and local governments had received their respective shares, how much each tier of government was paid, and the formula used to calculate the allocations.
It also demanded clarification on the $3 billion reportedly received during the current administration and how the funds were accounted for.
The Oyo State Government maintained that Makinde’s comments were based on available information rather than speculation.
According to Olanrewaju, the governor conducts public discussions with decorum and does not make claims or cite figures without an underlying basis.
The statement said the state government remained willing to provide further clarification on the matter while urging the Presidency to address the substance of the allegations.
The dispute centres on the reconciliation of NLNG dividend payments and whether the amounts due to states and local governments have been fully accounted for and distributed.
While the Presidency’s reported figures concern total dividends paid into the Federation Account, Makinde’s position focuses on the alleged shortfall identified during the reconciliation exercise.
The ₦9 trillion figure and the claim that the Federal Government accepted the reconciliation findings remain assertions made in the Oyo State Government’s statement. The statement did not provide the reconciliation report or a detailed breakdown of the calculations.
A full resolution of the dispute would require the relevant authorities to clarify the reconciliation methodology, the amounts received, the distribution formula and the payments made to states and local governments.
Source: Oyo State Government statement signed by Dr Sulaimon Olanrewaju, Special Adviser (Media) to the Governor, dated October 18, 2026.
