Ahead 2027 Election, Presidency, Governor Makinde In Verbal War Over ₦250bn NLNG Dividend

A major political storm has erupted between the presidency and the executive governor of Oyo State, Seyi Makinde, over the alleged withholding of a massive financial windfall belonging to the states of the federation. The escalating war of words highlights growing administrative and financial tensions between regional governors and the central government as early maneuvers for the 2027 general election cycle begin to solidify.

Governor Makinde Raises The Alarm

Speaking at a budget stakeholders’ consultative session held at the University of Ibadan, Governor Seyi Makinde claimed that the federal government was actively withholding an estimated ₦250 billion in Nigeria Liquified Natural Gas (NLNG) dividend windfalls due to each state.

According to Makinde, Oyo State had already mapped out critical developmental infrastructure and economic expansion projects based on the anticipated funds. The governor alleged that the federal administration had already spent the money and decided to freeze the disbursement until after the conclusion of the 2027 general elections. “Is the election more important than the welfare of the states?” Makinde questioned, igniting an immediate nationwide conversation.

The Presidency Fires Back

In a swift and sharp counter-response, the presidency completely dismissed Governor Makinde’s allegations, describing the claims as factually inaccurate and politically motivated. In an official statement, presidential spokespersons clarified that no such ₦250 billion NLNG windfall dividend was being withheld or spent secretly by the federal administration.

The administration counseled sub-national leaders to focus on utilizing their vastly increased statutory allocations from the Federal Account Allocation Committee (FAAC)—which have grown significantly following major national fiscal reforms—rather than manufacturing election-year narratives designed to distract the public.

SNOW TV NEWS EDITORIAL ASSESSMENT
This aggressive public disagreement comes on the heels of continuous debates over state financial autonomy and the redistribution of national oil and gas revenues. Tensions are steadily rising as both the ruling All Progressives Congress (APC) and opposition leaders scale up strategic positioning ahead of upcoming election campaigns.

For SNOW TV audiences, this verbal clash underscores the widening structural friction between the federal executive and powerful state executives over financial transparency. While the presidency points to historic FAAC revenue spikes as proof of fiscal support, state governors continue to demand full disclosure on peripheral oil, gas, and dividend accounts to fund critical grassroots infrastructure amidst inflation.

Moving forward, this financial battle will likely shift to the floor of the National Economic Council (NEC), where other state governors may be forced to either back Makinde’s position or align with the presidency’s official figures. Expect opposition parties to leverage this dividend dispute as a core campaign talking point to challenge the federal government’s economic stewardship heading into the next legislative session