Former Vice President Atiku Abubakar has strongly criticised the Bola Tinubu administration over revelations that the Nigerian National Petroleum Company Limited (NNPCL) spent ₦17.5 trillion in just one year on fuel pipeline security — a figure he described as shocking, unprecedented, and a major red flag for corruption.
In a statement from his media office on Sunday, Atiku said the alleged expenditure “stands as one of the boldest financial scandals in Nigeria’s history.”
He compared the amount to the country’s total fuel subsidy spending over more than a decade, noting that Nigeria spent about ₦18 trillion on subsidies across 12 years, a programme that directly helped millions and stabilised transportation and food prices.
Atiku argued that spending almost the same amount in a single year — on what he called “secretive pipeline security contracts” — raises serious ethical and governance concerns.
He accused the government of diverting huge public funds to private firms linked to individuals close to power, saying:
“This is not governance. This is grand theft disguised as public expenditure.”
He also questioned the credibility of the administration’s claim that fuel subsidy had been removed, pointing out that the same government reportedly spent:
₦7.13tn on ‘energy-security costs’, and
₦8.67tn on ‘under-recovery’
— terms he described as new labels meant to obscure continued subsidy payments.
Atiku asked several critical questions:
Which companies received these contracts?
Why has pipeline protection suddenly become more expensive than a decade-long nationwide subsidy?
Where are the audit reports and oversight documents?
He insisted that no government that manages public funds this recklessly has the right to ask Nigerians to “sacrifice” or endure hardship.
Atiku called for immediate action, demanding that the government:
Publish the full list of companies involved,
Reveal the scope and deliverables of each contract,
Conduct an independent forensic audit,
Suspend further payments until accountability is established, and
Explain how such massive spending aligns with current national priorities.
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He described the situation as not just a financial scandal but a serious moral failure that Nigerians must not ignore.
The reported ₦17.5tn figure also raises new questions about the President’s May 2023 declaration that “fuel subsidy is gone,” as documents now suggest that government support for petrol pricing may still be taking place through other channels.
