Former Vice-President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has demanded a full account of the ₦11.2 trillion in receivables recorded by the Nigerian National Petroleum Company Limited (NNPCL) from the Federation.
The demand followed the disclosure in NNPCL’s 2025 audited accounts that the amount comprised advances and costs incurred on behalf of the Federation, including expenses associated with protecting Nigeria’s oil and gas assets. The accounts clarify that the ₦11.2 trillion should not be interpreted as fresh expenditure incurred entirely in 2025.
In a statement issued by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku asked the government to disclose how much was spent on pipeline surveillance, who received the funds and what results were achieved.
“NNPC’s 2024 accounts recorded roughly ₦17.5 trillion across different claims on the Federation, including petrol under-recovery and other receivables linked to advances and asset protection. Its 2025 accounts now show approximately ₦11.2 trillion in other receivables from the Federation. Nigerians cannot tell from these totals what was spent on pipeline surveillance. What was paid? Who was paid? For what work? Where are the results?” Atiku asked.
He compared the figure with the approximately ₦3.1 trillion allocated to the Ministry of Defence in 2025, while acknowledging that the two figures belong to different accounting categories.
Atiku also questioned contracts involving companies engaged in pipeline security and major infrastructure projects, including Tantita Security Services and the Lagos-Calabar Coastal Highway contract linked to the Chagoury family.
He called for the publication of relevant invitations, competing bids, evaluation documents, contracts and payment records, while also asking whether contractors had provided financial or material support to Tinubu’s 2027 re-election campaign.
Atiku said Nigerians deserved greater transparency from a government asking citizens to make economic sacrifices.
“A mother should not have to pray her child survives the journey to school while her government cannot plainly explain the billions it spends on security. Tinubu must answer to the people living with these choices,” he said.
He also criticised President Tinubu’s remarks after returning from a four-week stay in Europe, which the Presidency described as a working vacation, saying the comments showed a disconnect from the economic difficulties facing Nigerians.
Atiku said his political programme would focus on reducing the cost of living, while promising that 2027 would mark the end of what he described as the current administration’s approach to economic hardship.
“Nigerians have had enough of hardship dressed up as reform. Tinubu made life expensive. I will make Nigeria affordable again. Let this be the last year he asks Nigerians to suffer and applaud. In 2027, we will bring this chapter to an end,” he said.
