Former Vice President Atiku Abubakar has taken a swipe at the Federal Government following revelations that the Nigerian National Petroleum Company Limited (NNPCL) allegedly spent N17.5 trillion in one year on securing petroleum pipelines. Atiku described the development as unprecedented, alarming, and a clear sign of deep-rooted financial recklessness.
In a statement released on Sunday by his media office, the former Vice President said the reported expenditure amounts to “one of the most brazen financial scandals in Nigeria’s history.”
He drew a comparison between the alleged spending and the country’s total fuel subsidy expenditure spanning more than a decade.
“For context, Nigeria spent about N18 trillion on fuel subsidy over 12 years—a national programme that directly cushioned millions of citizens, supported transportation, and helped keep food prices stable,” he said.
Atiku argued that the Tinubu administration has now channelled almost the same amount into a single year of “opaque security contracts,” raising questions about transparency and priorities.
“Yet, under President Bola Ahmed Tinubu, the country has now expended nearly the same amount in just one year on the same subsidy and pipeline security contracts awarded to private firms linked to associates and cronies of the President,” the statement read.
He went further to accuse the administration of misplacing its priorities.
“The action of the President is akin to robbing Peter (Nigerians) to pay Paul (cronies). This is not governance. This is grand larceny disguised as public expenditure,” Atiku stated.
He also challenged the rationale behind the government’s insistence on fuel subsidy removal.
“Nigerians were urged to tighten their belts, bear hardship, and make sacrifices. Yet, the same government has now funnelled N17.5 trillion—an amount capable of transforming the power sector, revamping refineries, or funding universal healthcare—into questionable security contracts whose beneficiaries appear conveniently connected to those in power.”
Atiku called for full transparency and accountability, warning that such financial practices threaten Nigeria’s stability and deepen public distrust in government.
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