Oyo State Governor [Seyi Makinde](https://en.wikipedia.org/wiki/Seyi_Makinde) accused President [Bola Ahmed Tinubu](https://en.wikipedia.org/wiki/Bola_Ahmed_Tinubu)’s administration of diverting Nigeria LNG dividend payments that were meant for the states, claiming each state was owed more than ₦250 billion, and warned the funds would be spent before the 2027 budget consultation at the University of Ibadan.
**What was said at the budget consultative meeting?**
Makinde raised the issue on Friday during a stakeholders’ consultative engagement on the 2027 budget, held at Olola Ogunlana Hall, International Conference Centre, University of Ibadan. He asserted that the dividends from [Nigeria LNG](https://en.wikipedia.org/wiki/Nigeria_Liquefied_Natural_Gas_Corporation) were deposited into the Federation Account and then spent by the federal government without being transferred to the states.
**Key points from the governor’s statement**
- The federal government allegedly reconciled the figures to determine each state’s entitlement but kept the money for itself.
- Makinde said every state should receive over ₦250 billion; Oyo had already identified projects to channel the funds into for economic expansion.
- He questioned the decision to postpone the payout until after the election, asking, "Is the election more important than the people of Nigeria?"
- The governor suggested that fears of governors using the money for political purposes might be behind the delay, but argued that such concerns should not block states from receiving their rightful share.
**Direct quote**
"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.
**Why the timing matters**
Makinde expressed alarm that the federal government’s plan to hold the funds until after the election could prioritize political calculations over the immediate needs of Nigerians, emphasizing that the money belongs to the states regardless of any perceived political risk.
**What are the implications for Oyo State?**
If the alleged diversion is true, Oyo’s planned infrastructure and development projects could be delayed, affecting the state’s economic growth trajectory ahead of the 2027 budget cycle.