The Federal Government and Oyo State Government are locked in a dispute over allegations of withholding N250 billion in dividends from the Nigerian Liquefied Natural Gas (NLNG) company, according to multiple reports. According to THISDAYLIVE, Governor Seyi Makinde made the claim, stating that the funds were due to each state.
However, the Presidency has dismissed the claim as false and illogical, stating that it is economically unsound for the government to withhold such a large sum that exceeds the company’s entire 25 years lifetime. This reaction was reported by THISDAYLIVE and Vanguard News, among others.
Governor Makinde, in response, has stood by his claim and demanded accountability from the Federal Government. This was reported by Tribune Online.
The dispute highlights the ongoing tension between the Federal Government and state governments over revenue allocation and management in Nigeria. The NLNG, a joint venture between the federal government, state governments, and international oil companies, is a significant source of revenue for the Nigerian government and the states.
The Presidency’s rejection of the claim raises questions about the transparency and accountability of the government’s management of the NLNG dividends. The Oyo State Government, in turn, has called for answers and accountability from the Federal Government.
This story matters to Nigerian readers because it involves significant amounts of money that are due to the states and could potentially impact their development and welfare. It also highlights ongoing issues with revenue allocation and management in Nigeria, which are of great concern to many Nigerians.
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