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Oyo State Governor Seyi Makinde has criticised the reported delay in distributing dividends from Nigeria LNG Limited to state governments, warning that the development could slow economic growth and disrupt planned infrastructure projects across the country.
Makinde made the remarks during a stakeholders’ consultation on Oyo State’s 2027 budget in Ibadan, where he disclosed that each state was expected to receive approximately 250 billion naira from the NLNG dividend funds. He expressed concern over reports that payment would be postponed until after the 2027 general elections.
The governor said his administration had already identified key projects that could benefit from the expected revenue, particularly those designed to expand economic activities and improve infrastructure. He argued that delaying the funds would make it more difficult for state governments to implement development plans at a time when the cost of governance and public projects continues to rise.
Makinde also highlighted the growing financial pressure on state administrations, pointing to the increase in Oyo State’s monthly wage bill from 4.5 billion naira in 2019 to 18 billion naira in 2026. According to him, the rising cost of salaries and infrastructure makes additional revenue essential for sustaining public services and delivering development projects.
The governor questioned why the funds should remain unavailable until after the elections, insisting that the welfare of Nigerians should take priority over political considerations. He maintained that timely distribution of the money would give states greater financial capacity to pursue economic expansion, improve public infrastructure and respond to the needs of their residents.
