Oyo Demands Account of Nearly $3bn in NLNG Dividends

Oyo State has asked the Presidency to account for nearly $3 billion in dividends paid by Nigeria LNG Limited since President Bola Tinubu took office. The Presidency rejected Governor Seyi Makinde’s claim that each state is owed ₦250 billion. It said NLNG has paid about $21.5 billion to the federation over 25 years, with less than $3 billion paid under the current administration. Makinde’s office says the response does not explain how the funds were shared. It cites a reconciliation exercise that reportedly found about ₦9 trillion in outstanding NLNG dividend allocations for states and local governments, and asks whether the affected governments received their shares and how the figures were calculated. The dispute raises fresh questions about transparency in the distribution of federation revenue to states and councils.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.