STATEHOUSE PRESS STATEMENT PRESIDENCY RESPONDS TO GOVERNOR MAKINDE’S CLAIM ON NLNG DIVIDENDS The Presidency wishes to clarify Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in NLNG dividends for each state of the Federation. At the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday, Makinde claimed the funds would not be released until after the 2027 elections. He further claimed that the Federal Government had spent the money. “Each state was supposed to get ₦250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” the governor said. Makinde's latest claim that the Federal Government is withholding the NLNG dividend windfall is false and should be disregarded. Here are the facts the public should know about how the Federation Account is managed and how money is shared among the three tiers of government. Even as a one-off distribution, ₦250 billion to each of the 36 states amounts to ₦9.0 trillion, excluding the Federal Government, the FCT, and the 774 local councils. Under the Federation Account Allocation Committee (FAAC) formula, states receive 26.72% of the distributable Federation Account revenue. For the states’ share alone to reach ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion (about $25 billion) in a single declaration. NLNG has never paid $25 billion in dividends to the Federation Account in a single payout. NLNG and Historical Dividend Context: NLNG has paid approximately $21.5 billion in dividends to the Federation over the last 25 years, with less than $3 billion realised since President Bola Ahmed Tinubu assumed office. Therefore, any claim that a single payout exceeds the company’s entire lifetime distribution to the Federation—and is being withheld—defies basic logic and economic reality. We expect Governor Makinde to be more measured in his public conduct and utterances. Since he embarked on his presidential bid, he has chosen to play politics by making misleading claims rather than presenting verifiable facts. Indeed, he has turned false, unguarded statements and claims into an art form. He once described the huge financial flow from the federation account to states, including Oyo, as 'voodoo'. Under Nigerian law, Governor Makinde is free to pursue his presidential ambition. He should desist from making falsehoods and disinformation the hallmarks of his campaign. We urge the public to disregard these unfounded claims, which serve only to mislead citizens and stoke needless disaffection against the Federal authorities. Bayo Onanuga Special Adviser to the President (Information and Strategy) October 18, 2026

October 18, 2026 Press Statement N250b NLNG Fund: Makinde-Daura Campaign Dismisses Presidency’s Denial …Insists Tinubu is Running a Voodoo Economy The attention of the Makinde-Daura Presidential Campaign Organization (MDPCO) has been drawn to the lame attempt by the Tinubu Presidency to evade the core issues raised by the Presidential Candidate of the Allied People's Movement (APM) and Governor of Oyo State, Engr. Seyi Makinde that the Nigeria Liquefied Natural Gas Dividend accruable to states is being withheld by the Tinubu-led Federal Government. Instead of coming clean on why the fund is withheld, the Tinubu Presidency in its characteristic resort to lies, falsehood, distortions and propaganda left the issue to play around with unsupported figures in the bid to hoodwink Nigerians and divert public attention from this constitutional violation and assault on the states If the Tinubu Presidency claims that Engr Makinde is wrong in his assertion that N250 billion NLNG dividend meant for states is being withheld, we challenge President Tinubu to directly tell Nigerians if the said dividends have been paid to the states rather than resorting to personal attacks on the APM Presidential candidate. The Presidency appears carried away by its own display of imperial grandeur, forgetting that Nigeria remains a democracy in which demanding accountability for public funds is a civic right, not an offence. Governor Makinde’s presidential ambition does not in any way deny him that right, nor does it exempt the Federal Government from legitimate scrutiny. Moreover, and importantly so, does the Presidency has any constitutional powers to withhold any funds accruing to the states in a Federation? We therefore challenge the Presidency to publish the relevant NLNG dividend receipts, Federation Account Allocation Committee (FAAC) decisions and official communications establishing the amounts received, the sums approved for distribution and the timing of the proposed payments to states. Nigerians deserve clear answers to three fundamental questions of how much the NLNG pay in dividends during the period under discussion and the amount credited to the Federation Account. They need to know how much was approved for distribution to the states. Invoking NLNG’s cumulative dividend payments in the last 25 years does not answer these questions. Historical totals cannot, by themselves, establish the amount received during a specific period and the sum available for distribution. It does not answer whether a particular payment was proposed, approved, received, delayed or withheld. Those questions can only be settled by the relevant financial records. If the Presidency’s argument is that allocating ₦250 billion to each of the 36 states would amount to ₦9 trillion, a sum NLNG has never paid as a single dividend as it alleged, that calculation does not resolve the matter. The question is not whether ₦9 trillion was ever paid in a single transaction, but the amount that is actually under discussion as can be established by the official records. Engr. Makinde, the Governor of Oyo State and Presidential candidate of the APM is known for his integrity. He is not given to propaganda and disinformation which are the known stock-in-trade and policy direction of the Tinubu-led All Progressives Congress (APC) administration. He has maintained a clean, issue-based campaign devoid of mudslinging, misinformation, disinformation and propaganda for which the APC is known. The MDPCO stands by Engr. Makinde in his assertion that President Tinubu is running a voodoo economy where government thrive on lies, where the national fortunes only improve on papers with no corresponding improvement in the harsh everyday life of citizens under his administration.

NNPC increases petrol price by ₦35 per litre despite controversy surrounding the federal government’s proposed discounted fuel price. arise.tv/nnpc-raises-petrol-…

STATEHOUSE PRESS STATEMENT PRESIDENCY RESPONDS TO GOVERNOR MAKINDE’S CLAIM ON NLNG DIVIDENDS The Presidency wishes to clarify Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in NLNG dividends for each state of the Federation. At the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday, Makinde claimed the funds would not be released until after the 2027 elections. He further claimed that the Federal Government had spent the money. “Each state was supposed to get ₦250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” the governor said. Makinde's latest claim that the Federal Government is withholding the NLNG dividend windfall is false and should be disregarded. Here are the facts the public should know about how the Federation Account is managed and how money is shared among the three tiers of government. Even as a one-off distribution, ₦250 billion to each of the 36 states amounts to ₦9.0 trillion, excluding the Federal Government, the FCT, and the 774 local councils. Under the Federation Account Allocation Committee (FAAC) formula, states receive 26.72% of the distributable Federation Account revenue. For the states’ share alone to reach ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion (about $25 billion) in a single declaration. NLNG has never paid $25 billion in dividends to the Federation Account in a single payout. NLNG and Historical Dividend Context: NLNG has paid approximately $21.5 billion in dividends to the Federation over the last 25 years, with less than $3 billion realised since President Bola Ahmed Tinubu assumed office. Therefore, any claim that a single payout exceeds the company’s entire lifetime distribution to the Federation—and is being withheld—defies basic logic and economic reality. We expect Governor Makinde to be more measured in his public conduct and utterances. Since he embarked on his presidential bid, he has chosen to play politics by making misleading claims rather than presenting verifiable facts. Indeed, he has turned false, unguarded statements and claims into an art form. He once described the huge financial flow from the federation account to states, including Oyo, as 'voodoo'. Under Nigerian law, Governor Makinde is free to pursue his presidential ambition. He should desist from making falsehoods and disinformation the hallmarks of his campaign. We urge the public to disregard these unfounded claims, which serve only to mislead citizens and stoke needless disaffection against the Federal authorities. Bayo Onanuga Special Adviser to the President (Information and Strategy) October 18, 2026