Former Vice President Atiku Abubakar has criticised President Bola Tinubu’s administration over the spending of N17.5tn on pipeline security and related activities within a single year, calling for a probe into what he described as a financial scandal and “a moral indictment on the Tinubu administration.”

In a statement issued by his media office on Sunday, Atiku noted that the amount exceeds 12 years of Nigeria’s fuel subsidy, asserting that the funds primarily benefit the President’s associates and political allies.

“The report that the Nigerian National Petroleum Company Limited spent a staggering N17.5tn in just 12 months on ‘securing fuel pipelines and others’ represents one of the most audacious financial scandals in our nation’s history,” Atiku said.

He compared this to the N18tn spent on fuel subsidies over 12 years, a programme that supported millions of Nigerians, stabilised transport costs, and helped keep food prices manageable.

“At present, under President Bola Tinubu, nearly the same sum has been spent in a single year on opaque pipeline security contracts awarded to private firms connected to presidential associates and cronies,” he added.

Describing the expenditure as “grand larceny disguised as public spending,” the statement criticised the government for removing petroleum subsidies while channeling massive funds into “energy-security” and “under-recovery” costs.

“In some areas, a litre of Premium Motor Spirit now costs over N1,000. Yet, according to NNPCL records, the administration spent N7.13tn on ‘energy-security costs’ to stabilise petrol prices and another N8.67tn on ‘under-recovery,’” the statement said.

It further claimed that these categories are used to obscure the actual beneficiaries of the spending.

Atiku called on the Federal Government to disclose the companies awarded these contracts, the scope and deliverables of each project, and urged that the N17.5tn expenditure undergo an independent forensic audit. He also demanded a halt to further disbursement until accountability is established.

He posed several questions, including what justifies a 38.7 per cent rise in energy-cost from N6.25tn in 2024 to N8.67tn in 2025; why pipeline security is now more costly than a decade-long subsidy that benefited over 200 million Nigerians; and where the audit reports, parliamentary oversight findings, and cost-validation documents are.

Atiku argued that no administration presiding over such fiscal recklessness has the moral authority to demand sacrifices from Nigerians, who continue to face high inflation, rising fuel prices, naira volatility, and widespread hunger.

He added, “Nigerians deserve transparency, not deceit. They deserve leadership, not cronyism. And they deserve a government that prioritises national interest over private enrichment. N17.5tn pipeline-security expenditure is not merely a financial anomaly; it is a moral indictment on the Tinubu administration and a clarion call for full accountability.”

According to NNPCL’s 2024 audited financial statements, the N17.5tn charge to the federation includes N7.13tn for energy-security costs aimed at stabilising petrol prices; N8.67tn for under-recovery, representing the gap between actual import costs and regulated pump prices; and other receivables totaling N8.84tn, covering advances and additional security-related costs for oil and gas infrastructure protection.

Part of this expenditure reportedly goes to pipeline surveillance, repairs, crude-theft prevention, and broader security operations.

While legitimate energy security spending can be justified to protect critical infrastructure and ensure stable fuel supply, the lack of transparency regarding beneficiaries and contract details raises serious concerns about cronyism and misallocation of resources, especially amid pressing national needs in power, healthcare, education, and infrastructure.