Former Vice President Atiku Abubakar has taken aim at the Federal Government following reports that the Nigerian National Petroleum Company Limited (NNPCL) spent N17.5 trillion in just one year on securing fuel pipelines, an amount he described as both unprecedented and deeply alarming.
In a statement released on Sunday from his media office, Atiku said the disclosure ranks among the most audacious financial scandals in Nigerias history.
He drew a comparison between the alleged spending and the nations total fuel subsidy expenditure over more than a decade, noting:
“For clarity, Nigeria spent roughly N18 trillion on fuel subsidy over a span of 12 years, a national programme that provided direct relief to millions of citizens, stabilised transport costs, and helped keep food prices within reach.”
According to Atiku, the Tinubu administration has now funnelled nearly the same amount into what he described as opaque security contracts within a single year.
He added:
“Under President Bola Ahmed Tinubu, the country has expended almost the same amount in one year on subsidy and secretive pipeline security contracts awarded to private firms connected to associates and allies of the President.”
Labeling the situation as exploitative, Atiku stated:
“This action is akin to robbing Peter (Nigerians) to pay Paul (cronies). This is not governance it is grand larceny disguised as public spending.”
The former Vice President also questioned the administrations earlier justification for subsidy removal, recalling that:
“Nigerians were urged to tighten their belts, endure hardship, and make sacrifices.”
He argued that despite these calls for austerity, the government has now directed N17.5 trillion an amount capable of transforming the power sector, rehabilitating refineries, or establishing universal healthcare into questionable security contracts benefiting individuals with ties to those in power.
