Atiku Slams FG Over N17.5trn Pipeline Security Spending, Calls It Grand Larceny

Former Vice President Atiku Abubakar has criticised the Federal Government over reports that the Nigerian National Petroleum Company Limited spent N17.5 trillion within a single year on securing fuel pipelines, describing the development as unprecedented and alarming.

Atiku made the remarks on Sunday in a statement issued by his media office, insisting that the revelation ranks among the most brazen financial scandals in Nigeria’s history.

The statement benchmarked the reported spending against over a decade of fuel subsidy payments, noting that Nigeria expended roughly N18 trillion on fuel subsidy over 12 years on a programme that cushioned millions, stabilised transport and helped keep food prices manageable.

According to Atiku, the Tinubu administration has routed nearly the same amount in a single year into opaque pipeline security contracts awarded to private firms allegedly tied to presidential associates.

“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,” the statement read in part.

Atiku also queried the administration’s rationale for fuel subsidy removal.

“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.

Reacting further, Atiku said the ballooning spend could have delivered major sectoral overhauls if transparently utilised, signalling a governance failure.

The Airline-Style Promotion Tone National Oil firm, Nigerian National Petroleum Company Limited, now restructured as NNPC Limited, has yet to issue public rebuttal on the figure as at press time, while the Federal Government has not commented on a hearing date regarding the allegations.