The media office of former Vice President Atiku Abubakar has accused the administration of President Bola Ahmed Tinubu of orchestrating one of Nigeria’s “most brazen financial scandals,” following reports that the Nigerian National Petroleum Company Limited (NNPCL) spent ₦17.5 trillion in 12 months on pipeline protection and related expenditures.
In a statement issued on Sunday, Atiku’s spokesperson, Paul Ibe, described the alleged spending as “grand larceny dressed as public expenditure,” comparing it to Nigeria’s 12-year fuel subsidy bill, which cost approximately ₦18 trillion. Ibe noted that the subsidy programme directly cushioned hardship for millions, stabilized transport, and helped prevent food-price surges.
“Yet under President Tinubu, nearly the same amount has been expended in a single year on pipeline security contracts awarded to private firms tied to associates and cronies of the President. This is akin to robbing Peter (Nigerians) to pay Paul (cronies),” the statement read.
Atiku’s camp criticized the government’s justification for removing fuel subsidies, accusing the administration of hypocrisy. “Nigerians were told to tighten their belts and endure hardship because the country could no longer afford subsidies. Yet, the same administration has channelled ₦17.5 trillion into opaque security contracts benefiting those connected to power,” the statement added.
According to figures reportedly provided by NNPCL, ₦7.13 trillion was spent as “energy-security cost to keep petrol prices stable,” while another ₦8.67 trillion was categorized as “under-recovery,” which Atiku’s team dismissed as misleading terminology designed to mask ongoing subsidy payments.
Ibe also questioned a reported 38.7 percent rise in energy costs, increasing from ₦6.25 trillion in 2024 to ₦8.67 trillion in 2025, asking why pipeline protection has become more expensive than a decade-long subsidy programme that served over 200 million Nigerians.
The former Vice President’s camp demanded full disclosure of the companies benefiting from the contracts, their scope and deliverables, justification for the sharp spending increase, and access to audit reports and parliamentary oversight documents.
“No administration that presides over this level of fiscal recklessness has the moral authority to demand sacrifice from its people,” Ibe said.
Atiku’s office warned that the situation confirms public suspicion that fuel subsidies were not ended but that public wealth has been redirected to a privileged cartel connected to the Presidency. It called for the ₦17.5 trillion expenditure to undergo an independent forensic audit, the suspension of further disbursements pending accountability, and a clear explanation of how such spending aligns with national priorities amid soaring inflation, a weakening naira, and rising hunger.
“Nigerians deserve transparency, not deceit; leadership, not cronyism; and a government that prioritizes national interest over private enrichment,” the statement concluded.
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