Tinubu Spent N9trn Meant for 36 States, Promised Repayment After 2027 Polls, Makinde Alleges

Oyo State Governor Seyi Makinde has accused President Bola Tinubu’s administration of spending N9 trillion in dividends from Nigeria Liquefied Natural Gas Limited (NLNG) meant for distribution to the country’s 36 states.

Makinde alleged that the Federal Government had told governors to expect payment only after the 2027 general elections, raising concerns over the delay in releasing funds earmarked for state development.

He made the allegations on Friday during a stakeholders’ consultative engagement on the 2027 budget at the University of Ibadan. According to him, each state stood to receive about N250 billion.

The governor said the Federal Government retained and spent the money instead of distributing it through the appropriate revenue-sharing process.

“They fooled us. The Nigeria LNG paid dividends to the Federal Government, which went straight into the Federation Account, but they spent it,” Makinde said.

He added that state governors had little room to challenge the decision, despite the financial implications for their respective administrations.

According to Makinde, a consultancy process had reconciled the figures and established the amounts due to individual states. However, he alleged that 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,” he said.

Makinde said his administration had already identified projects that would benefit from the expected allocation. He maintained that the funds could have supported economic expansion and development across Oyo State.

“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,” he said.

The governor also questioned the decision to delay payment until after the 2027 elections, arguing that the needs of Nigerians should take priority over political considerations.

“Now, they say they are not going to pay that money until after the election. Is the election more important than the people of Nigeria?” he asked.

He suggested that the administration might fear 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 you. 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 said.

His comments come as political parties prepare for the 2027 general elections, with the management and distribution of public revenue likely to remain a subject of debate between federal and state governments.

Makinde is contesting the 2027 presidential election under the Allied Peoples Movement (APM).

Presidential aide Bayo Onanuga had not responded to the allegations at the time of filing this report. The claims about the expenditure of the NLNG dividends and the proposed payment timeline had yet to receive a response from the Presidency.