Atiku Slams N17.5 Trillion Pipeline Security Bill

Former Vice President Atiku Abubakar has launched a blistering criticism against the Federal Government over reports that the Nigerian National Petroleum Company Limited (NNPCL) incurred a staggering N17.5 trillion in security and subsidy-linked costs in a single year. The former Vice President described the figure as unprecedented and deeply alarming.

In a powerful statement released from his media office on Sunday, Atiku asserted that the revelation, drawn from NNPCL’s financial statements for 2024, stands as one of the most brazen financial scandals in the nation’s history. Analysts have since confirmed the N17.5 trillion total, which includes substantial amounts for pipeline protection and energy security operations.

The statement drew a sharp comparison to Nigeria’s historic expenditure on fuel subsidy. The former Vice President noted that Nigeria spent roughly N18 trillion on fuel subsidy over a period of twelve years, a national program that directly cushioned millions of citizens, stabilized the transport sector, and helped to keep food prices manageable.

Atiku pointed out the damning irony: the Tinubu administration has now channeled almost the same astronomical amount in a single year into what he calls opaque security contracts and other associated costs. The NNPCL report revealed that N7.13 trillion was spent on energy security costs, with the remainder linked to under-recovery and other advances to the federation.

“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 tied to associates and cronies of the President,” the statement read.

The former Vice President concluded his comparison with a dramatic accusation: “Indeed, the action of the President is akin to robbing Peter (Nigerians) to pay Paul (cronies). This is not governance. This is grand larceny dressed as public expenditure.”

He also questioned the ethical justification for the administration’s initial decision to remove the fuel subsidy, which inflicted harsh economic pain on the populace.

Atiku reminded Nigerians that they were told to tighten their belts, endure hardship, and “make sacrifices” following the subsidy removal. He contrasted this austerity with the newly revealed spending.

“However, the same administration has now channelled N17.5 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 stated. The figures have since prompted widespread calls from financial experts for a comprehensive forensic audit of the NNPCL’s energy security spending.