Former Vice President Atiku Abubakar has taken aim at the administration of President Bola Tinubu, describing the reported N17.5tn spent on pipeline security and related costs within a single year as a “historic financial scandal” and a damning moral stain on the government.
In a statement issued on Sunday by his media office, Atiku argued that the expenditure eclipses what Nigeria spent on fuel subsidies over 12 years — a programme he said helped keep transport and food prices within reach for millions. By contrast, he alleged, the current spending benefits individuals tied to the government and represents “grand larceny dressed as public expenditure”.
“The report that the Nigerian National Petroleum Company Limited spent a humongous N17.5tn in just 12 months on securing fuel pipelines and others stands as one of the most brazen financial scandals in our nation’s history,” he said.
He claimed the funds were channelled through opaque security contracts awarded to firms linked to presidential allies, even as Nigerians face soaring pump prices — sometimes above N1,000 per litre — and unrelenting inflation. According to records cited in the statement, the NNPCL spent N7.13tn on “energy-security costs” aimed at stabilising petrol prices, and another N8.67tn under “under-recovery”, a mechanism that offsets the gap between import cost and regulated pump prices.
The statement questioned why pipeline protection now costs nearly as much in one year as 12 years’ worth of fuel subsidies, and why energy-related expenditure is set to rise by almost 39 per cent in 2025. Atiku demanded full disclosure of the companies involved, details of contract deliverables and an independent forensic audit of the entire N17.5tn outlay.
He called for a freeze on further payments until accountability is established, pressing the government to explain where audit reports, oversight documentation and cost-validation records are kept — if they exist at all.
“No administration presiding over such fiscal recklessness has the moral authority to demand sacrifices from Nigerians already battling inflation, high fuel prices, naira instability and hunger,” he warned. “Nigerians deserve transparency, not deceit. Leadership, not cronyism. And a government that puts national interest above private enrichment.”
Figures from NNPCL’s 2024 audited accounts show the N17.5tn charge to the federation includes energy-security spending of N7.13tn, N8.67tn in under-recovery, and another N8.84tn under “other receivables” for infrastructure protection and security-linked costs. Part of the funding is said to cover pipeline surveillance, crude-theft prevention and facility repairs.
While energy security remains vital to safeguarding petroleum infrastructure, Atiku insists the administration must justify why such vast sums are being disbursed without clarity. In a country where hospitals lack power, campuses decay and roads crumble, he argues, unanswered questions around Nigeria’s most expensive security bill yet cannot simply fade into silence.
