(DDM) – Former Vice‑President Atiku Abubakar yesterday launched a blistering attack on the federal government, condemning what he described as a staggering ₦17.5 trillion expenditure on pipeline security by Nigerian National Petroleum Company Limited (NNPCL) under Bola Ahmed Tinubu’s administration.
Atiku’s statement, issued by his media office, labelled the spending “one of the most brazen financial scandals in our nation’s history.”
He drew a stark comparison with Nigeria’s long‑standing fuel subsidy scheme, noting that over 12 years the country spent roughly ₦18 trillion subsidising fuel, a programme that provided tangible relief to millions of Nigerians, buffered transport costs, and helped stabilise food prices.
Yet, under the Tinubu administration, nearly the same amount was channelled within 12 months into opaque “pipeline security” contracts awarded to private firms allegedly linked to cronies of the Presidency.
Atiku decried this shift as “robbing Peter (Nigerians) to pay Paul (cronies),” calling it “grand larceny dressed as public expenditure.”
He questioned the justification for such astronomical spending, demanding clarity on who the beneficiary companies are, what the scope and deliverables of the contracts entail, and why expenditure for “pipeline security” now matches a decade‑long subsidy programme.
According to NNPCL’s own 2024 financial statements, the N17.5 trillion figure covers energy‑security costs to stabilise petrol prices and under‑recovery on regulated fuel pricing.
Of the total, N7.13 trillion was tagged as “energy‑security cost” while N8.67 trillion was attributed to under‑recovery.
Atiku argued strongly that while Nigerians were told to accept hardship and “make sacrifices” when subsidy was removed, the same government diverted enormous funds into questionable contracts — at a time economic pains, inflation, and hardship are already biting hard across the country.
He described the spending as a “moral indictment” on the Tinubu administration, calling for the immediate publication of all companies awarded these contracts, full disclosures on contract terms, scope, and duration, and a comprehensive independent forensic audit.
Atiku insisted that further disbursements should be halted until accountability is established, arguing Nigerians deserve transparency rather than secretive, unaccountable deals.
He concluded that this expenditure pattern confirms what many already suspect, that subsidy removal was not aimed at saving national finances, but rather a ploy to redirect public wealth to a privileged cartel anchored around the presidency.
Observers and analysts have also weighed in, describing the N17.5 trillion outlay as “outrageous,” given Nigeria’s modest crude‑oil production levels, persistent leakages, and long‑standing issues with oil theft and pipeline vandalism.
They argue that the scale of the spending undermines claims of subsidy removal and raises serious questions about transparency, institutional integrity, and governance priorities.
Atiku’s demand for a forensic audit and public disclosure of pipeline‑security contracts now sets the stage for what promises to be a fierce public and parliamentary scrutiny of the Tinubu administration’s fiscal decisions.