Former Vice President Atiku Abubakar has expressed concerns over the Nigerian National Petroleum Company (NNPC) Limited's ₦11.2tn in receivables from the Federal Government. In a statement issued on October 4, 2026, Atiku demanded clarification on how much of the money was spent on protecting the country's oil and gas assets. He raised questions about the details behind the figure contained in NNPC's 2025 accounts, particularly the portion linked to pipeline surveillance and asset protection.
Atiku's statement comes amid concerns over insecurity, economic hardship, and government spending in Nigeria. According to NNPC's 2024 accounts, the company recorded about ₦17.5tn in various claims on the Federation, including petrol under-recovery and other receivables linked to advances and asset protection. However, the 2025 accounts showed a significant decrease, with approximately ₦11.2tn in other receivables from the Federation. Atiku asked for specifics on what was spent on pipeline surveillance, who was paid, and for what work.
The former vice president compared the ₦11.2tn figure with the 2025 allocation to the Ministry of Defence, which he put at about ₦3.1tn. This comparison raises questions about the government's spending priorities, particularly amid continued insecurity across parts of the country. Atiku argued that Nigerians have a right to know how their money is being spent, especially given the current economic challenges.
It is essential to note that the ₦11.2tn figure is an accounting receivable rather than a simple statement that NNPC spent ₦11.2tn on pipeline security. NNPC's financial statements separately account for expenses incurred on behalf of the Federation and amounts receivable from it. This distinction is crucial in understanding the company's financial situation.
Atiku also linked his concerns about government contractors to President Bola Tinubu's 2027 re-election campaign. He specifically mentioned Tantita, which holds a pipeline security contract, and the company linked to the Chagoury family involved in the Lagos-Calabar Coastal Highway project. Atiku demanded the publication of contracts, payments, and other relevant documents relating to government contractors.
The ADC presidential candidate further criticized the Tinubu administration over the cost of living, insecurity, poor roads, and electricity challenges. He accused the government of asking Nigerians to endure hardship while describing its economic policies as progress. Atiku concluded by positioning the 2027 election as an opportunity for Nigerians to change the direction of the country.
The statement was signed by Phrank Shaibu on behalf of the ADC Presidential Campaign Council on October 4, 2026. Atiku's concerns have sparked a national conversation about government spending and transparency, with many Nigerians calling for greater accountability.
Key points
- Atiku Abubakar questions NNPC's ₦11.2tn receivables, seeking clarification on pipeline security spending.
- The former vice president demands transparency in government contracts and payments.
- Atiku criticizes the Tinubu administration's economic record and calls for change in the 2027 election.
