The Presidency and Governor Seyi Makinde of Oyo State on Sunday disagree over the reported withholding of NLNG dividends of N250 billion resulting from every state by the federal authorities.
While the Presidency punctured the declare by Oyo governor as being false and ought to be disregarded, Makinde in one other response saud he stood by his claims whereas asking for a breakdown of how $3 billion that accrued below the Tinubu’s authorities had been shared among the many three tiers of presidency.
The Presidency had submitted that
report that the federal authorities was withholding N250 billion dividends accruing to every of the 36 states from the Nigerian Liquified and Natural Gas (NLNG) was false and ought to be disregarded forthwith.
Makinde had on Friday on the 2027 Budget Stakeholders’ Consultative Engagement held on the Olola Ogunlana Hall, International Conference Centre, University of Ibadan claimed the funds wouldn’t be launched till after the 2027 elections including that the Federal Government had spent the cash.
“Each state was supposed to get ₦250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” the governor mentioned.
Reacting to the declare, The Presidency in a launch issued by presidential spokesperson, Bayo Onanuga acknowledged that
Makinde’s newest declare that the Federal Government is withholding the NLNG dividend windfall is fake and ought to be disregarded.
He defined how the Federation Account is managed and the way cash is shared among the many three tiers of presidency.
According to him: “Even as a one-off distribution, ₦250 billion to every of the 36 states quantities to ₦9.0 trillion, excluding the Federal Government, the FCT, and the 774 native councils.
“Under the Federation Account Allocation Committee (FAAC) formula, states receive 26.72% of the distributable Federation Account revenue. For the states’ share alone to reach ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion (about $25 billion) in a single declaration.”
The Presidency added that NLNG has by no means paid $25 billion in dividends to the Federation Account in a single payout.
It additional delved into NLNG and its Historical Dividend Context saying
NLNG has paid roughly $21.5 billion in dividends to the Federation during the last 25 years, with lower than $3 billion realised since President Bola Tinubu assumed workplace.
The Presidency additionally posited that any declare {that a} single payout exceeds the corporate’s whole lifetime distribution to the Federation—and is being withheld defies fundamental logic and financial actuality.
“We count on Governor Makinde to be extra measured in his public conduct and utterances. Since he launched into his presidential bid, he has chosen to play politics by making deceptive claims quite than presenting verifiable information. Indeed, he has turned false, unguarded statements and claims into an artwork type.
“He as soon as described the large monetary circulation from the federation account to states, together with Oyo, as ‘voodoo.’
“Under Nigerian regulation, Governor Makinde is free to pursue his presidential ambition. He ought to desist from making falsehoods and disinformation the hallmarks of his marketing campaign.
“We urge the public to disregard these unfounded claims, which serve only to mislead citizens and stoke needless disaffection against the Federal authorities,” the Presidency additional mentioned.
In a swift response on Sunday, Governor Makinde mentioned he stood by his submission saying Presidency’s response aspect stepped the central difficulty at hand.
In a launch issued by his Special Adviser on Media, Dr Sulaimon Olanrewaju, Oyo State Governor referred to as for a breakdown of the $3 billion obtained below Tinubu’s authorities had been shared among the many three tiers of presidency.
Makinde added that earlier findings by a marketing consultant had confirmed N9 trillion to states and native governments saying the federal authorities accepted the findings.
Oyo state governor within the launch issued by his media adviser, Dr Sulaimon Olanrewaju, entitled “NLNG Dividends: Governor Makinde stands by his claim”, acknowledged, inter alia: “We have learn the Presidency’s response to Governor Seyi Makinde’s assertion on the Federal Government’s withholding of NLNG dividends resulting from states and native governments.
“The response sidestepped the central difficulty: the Nigeria Governors’ Forum (NGF), with the Federal Government’s help, engaged a marketing consultant to reconcile NLNG dividend funds. The train recognized a shortfall of about ₦9 trillion resulting from states and native governments. The Federal Government accepted the findings.
“The report stays within the custody of each the Federal Government and the NGF. We belief the Presidency won’t deny its existence.
“Governor Makinde is the NGF’s incumbent Vice-Chairman.
“The Presidency acknowledged that NLNG had paid $21.5 billion in dividends into the Federation Account since inception, together with $3 billion obtained below the present administration. But it didn’t clarify how these funds had been disbursed.
“Have states and native governments obtained their shares? How a lot did they obtain, and the way had been these quantities calculated? What occurred to the $3 billion obtained below this administration?
“Governor Makinde conducts public discourse with decorum and doesn’t make unfounded claims or quote figures and not using a foundation.
“We remain ready to provide further clarification while we urge the presidency to address the substance of the matter.”
Deji Elumoye and Kemi Olaitan
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