Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has raised concerns over the Nigerian National Petroleum Company Limited's (NNPCL) N11.2tn spending on pipeline security. In a statement, Atiku's spokesperson, Phrank Shaibu, questioned the huge expenditure, saying it is more than three times the defence allocation in 2025, which stood at N3.1tn. Atiku demanded a detailed explanation of the spending, citing the need for transparency.
According to Atiku, the NNPCL's 2025 financial records show approximately N11.2 trillion in other receivables from the Federation, but it is unclear how the funds were spent. He asked for specifics on pipeline surveillance and security expenditures, including what was paid, who was paid, and the results achieved. Atiku emphasized that Nigerians have a right to know how their money is being spent.
Atiku Abubakar's criticism of the NNPCL's spending is part of a broader concern about the priorities of President Bola Ahmed Tinubu's administration. Atiku argued that the huge allocation to the oil sector under Tinubu dwarfs the resources allocated to defence and security in the country. He described this as a "damning measure" of the administration's priorities.
The NNPCL's pipeline security spending has raised eyebrows, given the country's security challenges. Nigeria has struggled with pipeline vandalism, oil theft, and insecurity in the oil-producing regions. However, Atiku's concern is that the huge spending on pipeline security may not be yielding the desired results, and there is a need for transparency and accountability.
Atiku Abubakar's call for transparency is not limited to the NNPCL's spending. He also demanded that the Tinubu administration publish details of NNPC contracts and payments. Atiku's request is part of his campaign funding and transparency agenda, which seeks to hold the government accountable for its actions.
The former Vice President's statement has sparked a renewed debate about government spending and priorities. It remains to be seen how the Tinubu administration will respond to Atiku's demands for transparency and accountability. The issue has also raised questions about the management of Nigeria's oil sector and the need for reforms.
The controversy over the NNPCL's spending is likely to continue, with many Nigerians calling for greater transparency and accountability in government spending. Atiku Abubakar's criticism of the NNPCL's spending is a reminder that the government must be accountable to its citizens and that transparency is essential in governance.
Key points
- Atiku Abubakar questions NNPCL's N11.2tn pipeline security spending, citing lack of transparency.
- NNPCL's spending on pipeline security dwarfs defence allocation in 2025.
- Atiku demands publication of NNPC contracts, payments, and spending records.
