Tinubu Administration Faces Accusations Of ‘Grand Larceny’ Over ₦17.5 Trillion Pipeline Security Spending

The Bola Ahmed Tinubu administration is facing severe criticism following a report indicating that the Nigerian National Petroleum Company Limited (NNPCL) has spent a staggering ₦17.5 trillion in a single year on “securing fuel pipelines and others.”

A statement released by the Atiku Media Office today alleges that this expenditure is a “brazen financial scandal” and an act of “robbing Peter (Nigerians) to pay Paul (cronies).”

According to the Atiku Media Office, the ₦17.5 trillion allocated to pipeline security in just twelve months is nearly equivalent to the estimated ₦18 trillion spent on fuel subsidy over the past twelve years. The subsidy, they argue, directly benefited millions of Nigerians by cushioning transport costs and stabilizing food prices. In contrast, the current pipeline security spending is directed towards “opaque security contracts awarded to private firms tied to associates and cronies of the President.”

The statement further contends that the administration’s justification for removing fuel subsidies – claiming the nation could no longer afford it and urging citizens to “tighten their belts” – is contradicted by this massive allocation to private security firms. “This is not governance. This is grand larceny dressed as public expenditure,” the Atiku Media Office declared.

They highlighted that despite the removal of subsidies and the subsequent rise in the price of Premium Motor Spirit (PMS) to over ₦1,000 per litre in some areas, the NNPCL has reportedly spent ₦7.13 trillion on “energy-security cost to keep petrol prices stable” and another ₦8.67 trillion on “under-recovery.”

The Atiku Media Office dismisses these terms as “new coinage of the Tinubu administration to deceive Nigerians on the government’s fraudulent claim that it was no longer paying subsidies.”

This expenditure, the statement argues, raises critical questions about public trust and national integrity:

The identities of the companies awarded these contracts remain undisclosed.

The justification for a 38.7 percent increase in “energy cost” from 2024 to 2025 is unclear.

The cost of current pipeline security is questioned in comparison to a decade-long subsidy that served over 200 million Nigerians.

There is a lack of transparency regarding audit reports, parliamentary oversight findings, and cost-validation documents.

“No administration that presides over this level of fiscal recklessness has the moral authority to demand sacrifice from its people,” the Atiku Media Office asserted.

They stated that the Nigerian public cannot endure “crushing inflation, punitive fuel prices, an unending collapse of the naira, and widespread hunger” while “a select circle of political allies pocket trillions under the guise of ‘pipeline security.’”

The statement concludes that the ₦17.5 trillion expenditure confirms the belief that “the Tinubu administration did not end subsidy — it merely redirected public wealth from the entire nation to a privileged cartel anchored around the Presidency.”

The Atiku Media Office has issued a five-point demand to the government:

• Publish the full list of companies awarded these contracts.
• Disclose the scope, deliverables, and duration of each contract.
• Subject the entire ₦5 trillion expenditure to an independent forensic audit.
• Halt further disbursement until accountability is established.
• Explain to Nigerians how this expenditure aligns with national priorities amid unprecedented economic strangulation.

“Nigerians deserve transparency, not deceit. They deserve leadership, not cronyism. And they deserve a government that places national interest above private enrichment,” the statement read, calling the pipeline security expenditure “a moral indictment on the Tinubu administration and a clarion call for full accountability.”

Authorities have also signaled that this list is not exhaustive, with more names currently under review and subject to potential inclusion in future phases of the operation.

Enforcement measures are expected to be swift and decisive. Agencies are poised to implement account restrictions, freeze assets where deemed necessary, and diligently pursue any further financial movements linked to the newly identified individuals and firms.

This announcement underscores the Federal Government’s unwavering commitment to closing the financial arteries that sustain terrorist activities and restoring peace and security across Nigeria.