The Presidency has dismissed claims by Oyo State Governor, Seyi Makinde, that the Federal Government is withholding 250 billion naira in Nigeria LNG dividends for each state until after the 2027 general elections.

The President’s Special Adviser on Information and Strategy, Bayo Onanuga, described the claim as false, arguing that the figures did not align with NLNG’s dividend payments and the Federation Account revenue-sharing formula.

Onanuga said allocating 250 billion naira to each of the 36 states would amount to nine trillion naira, requiring total distributable revenue of more than 33.68 trillion naira.

He added that NLNG had paid about 21.5 billion dollars in dividends to the Federation over the past 25 years.