Atiku alleges N17.5tn pipeline security scandal, accuses Tinubu of robbing Nigerians to pay cronies
Former Vice President Atiku Abubakar has accused the Federal Government of authorising what he calls an “unprecedented financial scandal,” alleging that the Nigerian National Petroleum Company Limited (NNPCL) spent ₦17.5 trillion in one year on pipeline security and related oil-sector costs — almost equal to 12 years of fuel subsidy expenditure.
In a strongly worded statement issued in Abuja, Atiku said the figures, reportedly drawn from NNPCL records, contradict the Federal Government’s insistence that petrol subsidy has been eliminated.
“Nigeria spent roughly ₦18 trillion on fuel subsidy over twelve years. Yet this administration has committed nearly the same amount in just one year under new, opaque labels,” Atiku said.
“This is not governance. This is grand larceny dressed as public expenditure.”
He argued that the reported ₦17.5 trillion includes ₦7.13 trillion classified as “energy-security cost” and ₦8.67 trillion listed as “under-recovery,” terms he described as a “deceptive rebranding” of subsidy payments.
“These new balablu nomenclatures — energy-security cost and under-recovery — are nothing but a fraudulent attempt to conceal the fact that subsidies are still being paid,” he said.
Atiku also questioned why the projected energy-cost expenditure reportedly increased by 38.7 percent from ₦6.25 trillion in 2024 to ₦8.67 trillion in 2025.
“How is pipeline security suddenly more expensive than a decade-long subsidy programme that served over 200 million Nigerians?” he asked.
“Where are the audit reports? Where is the legislative oversight? Who are the beneficiaries of these contracts?”
He added that the alleged spending was unconscionable at a time when many Nigerians are struggling with surging fuel prices, inflation, and economic hardship.
“The public cannot continue to suffer crushing inflation, hunger and a collapsing naira while trillions are funneled to a select few in the name of pipeline security,” Atiku stated.
“This administration did not end subsidy — it merely redirected public wealth to a privileged cartel anchored around the Presidency.”
Atiku called on the Federal Government to immediately publish the list of companies involved in the contracts, release their scopes and deliverables, and subject the entire ₦17.5 trillion expenditure to a forensic audit.
“Nigerians deserve transparency, not deceit. They deserve leadership, not cronyism,” he said.
“This ₦17.5 trillion outlay is a moral indictment, and the government must explain how this aligns with national priorities.”
As of press time, the Federal Government and NNPCL had not responded to Atiku’s allegations.
