Former Vice President Atiku Abubakar has strongly criticised the Federal Government following revelations that the Nigerian National Petroleum Company Limited, NNPCL, allegedly spent N17.5 trillion in one year on pipeline security.
Atiku, in a statement from his media office on Sunday, described the disclosure as “unprecedented, alarming, and one of the most brazen financial scandals in Nigeria’s history.”
Atiku: Spending Equals 12 Years of Subsidy Payments
The statement compared the alleged expenditure to Nigeria’s fuel subsidy costs spanning more than a decade.
According to him:
“Nigeria spent roughly N18 trillion on fuel subsidy over 12 years — a national programme that cushioned millions, stabilised transport, and helped keep food prices manageable.”
He argued that it is shocking that the Tinubu administration allegedly channelled nearly the same amount in just one year into controversial pipeline security contracts awarded to private firms linked to associates of the President.
“Robbing Peter to Pay Paul” — Atiku
He accused President Bola Tinubu of diverting public funds into questionable deals.
“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.”
Questions Government’s Justification for Subsidy Removal
Atiku also questioned the administration’s earlier demands for citizens to “sacrifice” following the removal of fuel subsidy.
“Nigerians were told to tighten their belts and endure hardship. Yet, the same administration has now channelled N17.5 trillion into opaque security contracts whose beneficiaries are linked to those in power.”
Funds Could Fix Nigeria’s Power Sector — Atiku
He further noted that the amount in question could completely overhaul the country’s power sector, rebuild refineries, or fund universal healthcare.
Atiku called on the government to provide full transparency and accountability regarding the expenditure, warning that Nigerians deserve answers, not unexplained financial burdens.
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