…Says spending outstrips 12yrs of fuel subsidy
The Atiku Media Office has launched a scathing attack on President Bola Ahmed Tinubu’s administration following revelations that the Nigerian National Petroleum Company Limited (NNPCL) allegedly spent a staggering ₦17.5 trillion within one year on “pipeline security and related costs”.
In a strongly-worded statement issued yesterday in Abuja, the opposition bloc described the expenditure as “one of the most brazen financial scandals in Nigeria’s history”.
The group said the amount reportedly spent on opaque security contracts in just 12 months nearly equals the ₦18 trillion Nigeria used to fund fuel subsidy over 12 years – a programme that directly cushioned transportation costs, stabilised food prices, and provided relief to millions of households.
According to the statement, instead of eliminating fuel subsidy as claimed, the Tinubu government “merely rebranded it under dubious terminologies”, while funnelling trillions to private firms allegedly linked to the President’s associates.
“This is not governance; this is grand larceny dressed as public expenditure. The action of the President is akin to robbing Nigerians to pay cronies”, the statement read.
The Atiku camp argued that the administration’s public justification for removing fuel subsidy, which he said the nation could no longer afford, has now been exposed as deceptive. It cited NNPCL records indicating that the government spent ₦7.13 trillion on what it calls “energy-security cost to keep petrol prices stable”, ₦8.67 trillion on “under-recovery”.
Describing these labels as “balablu nomenclatures”, the statement said the new spending regime contradicts the government’s insistence that it no longer pays subsidies.
The group also questioned why pipeline security has suddenly become more expensive than a decade-long fuel subsidy programme that benefited over 200 million Nigerians, especially when petrol still sells for over ₦1,000 per litre in some regions.
The media office demanded clarity on several fronts, including: The identities of the companies awarded the multi-trillion-naira contracts; the justification for a 38.7% rise in “energy-cost” from ₦6.25 trillion in 2024 to ₦8.67 trillion in 2025; the absence of audit reports, parliamentary oversight findings, or cost-validation documentation.
It insisted that no government overseeing such “fiscal recklessness” has the moral authority to ask already struggling Nigerians to endure further hardship amidst soaring inflation, escalating fuel prices, persistent naira depreciation, and widespread hunger.
The statement asserted that the scandal confirms widespread public suspicion: that the Tinubu administration did not end fuel subsidy, but “redirected it to a privileged cartel anchored around the Presidency”.
To restore public trust, the group demanded that the government immediately: Publish the list of all companies awarded the contracts; Disclose the scope, deliverables, and duration of each contract; Subject the entire ₦17.5 trillion expenditure to an independent forensic audit; Suspend further payments until accountability is established; and Explain how the spending aligns with national priorities amid economic distress.
The statement concluded by describing the expenditure as “a moral indictment on the Tinubu administration and a clarion call for full accountability,” insisting that Nigerians deserve leadership grounded in transparency and national interest – not deception or cronyism.
The Presidency had yet to issue a response to the allegations at press time.
