The Makinde-Daura Presidential Campaign Organization (MDPCO) has faulted the Presidency’s denial of Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends meant for states.
The campaign organization, which described President Bola Tinubu’s economic management as a “voodoo economy,” challenged the Presidency to publish official financial records to establish the amount of NLNG dividends received, approved for distribution and paid to states.
In a statement issued on Sunday, the Director of Strategic Communications of MDPCO, Richard Nnanna Ihediwa, accused the Presidency of diverting attention from the substantive issues raised by Makinde, the Governor of Oyo State and presidential candidate of the Allied Peoples Movement (APM).
The Presidency had earlier dismissed Makinde’s allegation as false, arguing that distributing ₦250 billion to each of the 36 states would amount to ₦9 trillion, excluding the Federal Government, the Federal Capital Territory and the 774 local government councils.
In a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency said states receive 26.72 per cent of distributable Federation Account revenue under the Federation Account Allocation Committee (FAAC) formula.
It added that, for the states’ share alone to reach ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion, or approximately $25 billion, in a single declaration.
The Presidency further stated that NLNG had paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion realised since Tinubu assumed office.
However, the MDPCO insisted that the Presidency’s argument about the ₦9 trillion calculation did not address the specific amount under discussion or establish whether any approved funds had been delayed or withheld.
“If the Tinubu Presidency claims that Engr. Makinde is wrong in his assertion that ₦250 billion NLNG dividend meant for states is being withheld, we challenge President Tinubu to directly tell Nigerians if the said dividends have been paid to the states,” the statement said.
The campaign organization also questioned whether the Federal Government had constitutional authority to withhold funds accruing to states in a federation.
It called on the Presidency to publish relevant NLNG dividend receipts, FAAC decisions and official communications showing the amounts received, sums approved for distribution and the timing of payments to states.
According to the MDPCO, Nigerians deserve answers on the total dividends paid by NLNG during the period in question, the amount credited to the Federation Account and the sum approved for distribution to states.
The organization argued that citing NLNG’s cumulative dividend payments over 25 years was insufficient to determine the amount received during a particular period or whether a specific payment had been approved, delayed or withheld.
“If the Presidency’s argument is that allocating ₦250 billion to each of the 36 states would amount to ₦9 trillion, a sum NLNG has never paid as a single dividend as it alleged, that calculation does not resolve the matter,” the statement added.
The MDPCO also defended Makinde’s integrity, describing his campaign as issue-based and accusing the ruling All Progressives Congress (APC) administration of relying on propaganda and misinformation.
It maintained that the governor’s “RESET NIGERIA Agenda” was gaining acceptance nationwide and alleged that the growing popularity of his presidential campaign had unsettled the Tinubu administration.
The campaign organization reaffirmed its support for Makinde’s position that the Federal Government was operating a “voodoo economy,” arguing that official economic figures did not reflect the harsh realities faced by ordinary Nigerians.
The Presidency, however, urged Nigerians to disregard Makinde’s allegation, accusing the governor of making misleading claims since embarking on his presidential bid.
It also urged him to exercise restraint in his public statements and present verifiable facts to support his allegations.
The dispute over the NLNG dividends has consequently raised questions about the amounts involved, the applicable distribution arrangements and whether any payments due to states have been delayed.
However, the two statements presented conflicting positions, with the Presidency rejecting the allegation and the Makinde campaign demanding documentary evidence to settle the matter.
