Former Vice-President Atiku Abubakar has asked the federal government to explain the expenditure of N17.5 trillion on pipeline security in a year.
The Nigerian National Petroleum Company (NNPC) Limited
reportedly spent N17.5 trillion on securing pipelines in 2024, according to its
audited financial statement (AFS).
In a statement on Sunday by his media officer, Abubakar
asked the government to publish the complete list of companies awarded the
contracts.
“Explain to Nigerians how this expenditure aligns with
national priorities at a time of unprecedented economic strangulation,” he
said.
“Disclose the scope, deliverables, and duration of each
contract.
“Subject the entire ₦17.5 trillion expenditure to an
independent forensic audit.”
Abubakar also urged the government to discontinue further
disbursement until accountability is established.
“This ₦17.5 trillion pipeline-security expenditure is not
merely a financial anomaly — it is a moral indictment on the Tinubu
administration and a clarion call for full accountability,” he said.
The politician described the NNPC’s spending on “securing
fuel pipelines and others” as one of the “most brazen financial scandals in our
nation’s history”.
“For clarity, Nigeria spent roughly ₦18 trillion on fuel
subsidy over a period of twelve years — a national programme that directly
cushioned millions of Nigerians, stabilised the transport sector, and helped
keep food prices manageable,” Abubakar said.
“Yet, under President Bola Ahmed Tinubu, the country has now
expended nearly the same amount in a single year on same subsidy and opaque
pipeline security contracts awarded to private firms tied to associates and
cronies of the President.”
He said the action of the president is similar to “robbing
Peter (Nigerians) to pay Paul (cronies)”.
“This is not governance. This is grand larceny dresse as
public expenditure,” the politician said.
He said the government ended petrol subsidy citing lack of
funds, yet reportedly redirected N17.5 trillion into “opaque security
contracts” linked to allies — money that could have supported vital national
needs.
Despite petrol selling for as high as N1,000 per litre in
some states after petrol subsidy removal, he said the “same administration has
spent N7.13tn on what it calls, energy-security cost to keep petrol prices
stable”.
He said another N8.67 trillion was spent on
“under-recovery”.
“These two balablu nomenclatures: energy-cost and
under-recovery are a new coinage of the Tinubu administration to deceive
Nigerians on the government’s fraudulent claim that it was no longer paying
subsidies on petroleum products,” Abubakar said.
The spending, he said, raises fundamental questions of
public trust and national integrity.
He added that the “scandal” confirms that the Tinubu
administration “did not end subsidy — it merely redirected public wealth from
the entire nation to a privileged cartel anchored around the Presidency”.
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