By Citizenship Newspaper
The report that the Nigerian National Petroleum Company Limited (NNPCL) spent a humongous ₦17.5 trillion in just 12 months on “securing fuel pipelines and others” stands as one of the most brazen financial anomaly in our nation’s history, former Vice President Atiku Abubalar has alleged.
“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,” Atiku said in a statement by his media office in Abuja on Sunday.
He added: “Yet, under President Bola Ahmed Tinubu, the country has now expended nearly the same amount in a single year on the same subsidy and opaque pipeline security contracts awarded to private firms….”
He said the Tinubu administration justified the removal of fuel subsidy by claiming the country could no longer afford it, adding that Nigerians were told to tighten their belts, endure hardship, and “make sacrifices.”
“However, the same administration has now channelled ₦17.5 trillion — an amount that could transform Nigeria’s power sector, rebuild our refineries, or fund universal healthcare — into opaque security contracts whose beneficiaries are conveniently linked to those in power.”
He said in some places in the country, a litre of PMS goes for over N1,000 and the justification for this by the Tinubu administration is the wholesome removal of subsidy, yet according to the records provided by the NNPCL, this same administration has spent N7.13tn on what it calls, “energy-security cost to keep petrol prices stable”; another N8.67tn on what it calls “under-recovery.”
He said the two terms – energy-cost and under-recovery – are a new coinage of the Tinubu administration to deceive Nigerians on the government’s alleged fraudulent claim that it was no longer paying subsidies on petroleum products.
He noted: “This raises fundamental questions of public trust and national integrity, as to who are the companies paid under these contracts?
“What specifically justifies a 38.7 percent rise in the amount of energy-cost from N6.25tn in 2024 to N8.67tn in 2025?
“Why is pipeline security now more expensive than a decade-long subsidy that served over 200 million Nigerians?
“Where are the audit reports, parliamentary oversight findings, and cost-validation documents?
“The Nigerian public cannot continue to suffer crushing inflation, punitive fuel prices, an unending collapse of the naira, and widespread hunger — only for a select circle of political allies to pocket trillions under the guise of “pipeline security.”
Atiku said this development suggests that the Tinubu administration did not end the subsidy, that it merely redirected public wealth from the entire nation to a privileged few.
He said the government must, without delay publish the full list of companies awarded these contracts; disclose the scope, deliverables, and duration of each contract; subject the entire ₦17.5 trillion expenditure to an independent forensic audit; halt further disbursement until accountability is established; and explain to Nigerians how this expenditure aligns with national priorities at a time of unprecedented economic strangulation.
