By Samuel Adeola
Former Vice President Atiku Abubakar has called for an independent probe into the N17.5tn reportedly spent by the Federal Government on pipeline security and related costs within one year, describing it as “a brazen financial scandal” and a moral indictment on President Bola Tinubu’s administration.
In a statement on Sunday, Atiku said the spending nearly matches the N18tn spent on fuel subsidy over 12 years, a scheme he argued directly supported millions of Nigerians.
He alleged that the current expenditure mainly benefits firms linked to the President’s associates.
He criticised the categorisation of the spending into “energy-security costs,” “under-recovery,” and “other receivables,” claiming it conceals the true beneficiaries.
According to NNPCL’s 2024 audited accounts, the N17.5tn figure includes N7.13tn for stabilising petrol prices, N8.67tn for under-recovery, and N8.84tn for security-related costs, advances and infrastructure protection.
Atiku questioned the soaring costs despite petrol selling above N1,000 per litre in some areas and demanded full disclosure of the companies involved, their contracts and deliverables.
He urged the government to halt further payments until transparency is ensured.
He said no administration presiding over such “fiscal recklessness” can demand sacrifices from citizens struggling with inflation, rising fuel prices and a weakening naira.
“Nigerians deserve transparency, not deceit,” he added.
