Presidential candidate of the Allied Peoples’ Movement and Oyo State Governor, Engr. Seyi Makinde has accused the President Bola Ahmed Tinubu’s administration of spending N9 trillion in dividends from the Nigeria Liquefied Natural Gas Limited (NLNG) meant for distribution to the 36 states of the federation.
While raising concerns over the delay in releasing funds earmarked for state development, Makinde said the Federal Government only told the Governors to expect payment after the 2027 general elections.
He particularly questioned the decision to delay payment until after the 2027 elections, stressing that the needs of Nigerians ought to take priority over political considerations.
The APM Presidential candidate who stated these on Friday at a stakeholders’ consultative engagement on the 2027 budget at the University of Ibadan, noted that each state stood to receive about N250 billion.
He stated that the Tinubu-led Federal Government retained and spent the money instead of distributing it through the appropriate revenue-sharing process.
In the words of Makinde; “They fooled us. The Nigeria LNG paid dividends to the Federal Government which went straight into the Federation Account, but they spent it. The state governors have little room to challenge the decision, despite the financial implications for their respective administrations.
“A consultancy process reconciled the figures and established the amounts due to individual states. However, the Federal Government proceeded to spend the funds without making the expected payments.
“So, what do we do? They did the consultancy, reconciled the figures, and each state of the federation was supposed to be paid, but they spent the money alone. The Federal Government spent it alone,” Makinde stated.
He also said that his administration had already identified projects that would benefit from the expected allocation, adding that the funds could have supported economic expansion and development across Oyo State.
Makinde said; “Each state should receive more than N250 billion. We were planning towards this, identified projects that we can invest the money in to further expand the economy of Oyo State.
“They said they are not going to pay that money until after the election. Is the election more important than the people of Nigeria? The administration might be afraid that governors would use the funds to support political opponents of the All Progressives Congress (APC) during the election campaign.
“Well, maybe they felt that when they pay the money to the states, the governors may have control over it and use it to work against them. Even at that, are you saying the election is more important than the people of Nigeria? Even if they use the money to work against you, is it your money?” Makinde asked.
