Former Vice President Atiku Abubakar has criticised the Federal Government over reports that the Nigerian National Petroleum Company Limited spent N17.5 trillion within one year on securing fuel pipelines, calling the development unprecedented and deeply alarming.
Atiku made the comments on Sunday through a statement issued by his media office, describing the revelation as one of the most blatant financial scandals in Nigeria’s history.
The statement compared the reported expenditure to Nigeria’s fuel subsidy bill over more than a decade, noting: “For clarity, Nigeria spent roughly N18 trillion on fuel subsidy over a period of 12 years, a national programme that directly cushioned millions of Nigerians, stabilised the transport sector, and helped keep food prices manageable.”
According to the statement, the Tinubu administration allegedly directed almost the same amount to non-transparent security contracts in just one year.
It added: “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.
“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.”
Atiku also queried the administration’s justification for removing the fuel subsidy.
“Nigerians were told to tighten their belts, endure hardship, and ‘make sacrifices.’
“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.
