Presidency, Makinde at ‘war’ over N250bn NLNG dividend

By Johnbosco Agbakwuru & Adeola Badru ABUJA — THE Presidency yesterday described as false Oyo State governor, Seyi Makinde’s latest claim that the federal government was withholding N250 billion in NLNG dividend windfall for each state of the federation, asking that it be disregarded. Read Also: DisCos’ revenue rises 450% as debt profile hits N700bn It also noted that, going by Governor Makinde’s claim, a one-off distribution of N250 billion to each of the 36 states would amount to N9 trillion, excluding the federal government, FCT and the 774 local councils, adding that NLNG had never paid $25 billion in dividends to the Federation Account in a single payout. The governor, who is also the presidential candidate of Allied Peoples Movement, APM, had alleged that the federal government was withholding the amount meant for states until the 2027 elections were over. But in a statement issued yesterday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency said any claim that a single payout exceeded the company’s entire lifetime distribution to the federation, and was being withheld, defied basic logic and economic reality. Tinubu running voodoo economy However, the governor, through the Makinde-Daura Campaign Organisation, double-down on his allegation last night, dismissing the Presidency’s denial and insisting the President was running a voodoo economy. Makinde’s claim false — Presidency The Presidency’s statement read: “The Presi

Reporting from Vanguard news wire services. Full analysis by The Abuja Times editorial desk.