Energy security: ADC challenges Tinubu govt over NNPC N17.5tn spending

The African Democratic Congress, ADC, has called on President Bola Tinubu, the Nigerian National Petroleum Company Limited, NNPC Ltd., and the National Assembly to publicly account for trillions of naira reportedly spent on energy security, questioning what Nigeria has gained from the expenditure.

The opposition party made the demand in a statement issued by its National Publicity Secretary, Bolaji Abdullahi, while reacting to figures contained in the recently audited financial accounts of NNPC Ltd. for the 2024 financial year.

According to Abdullahi, the audited accounts showed that N7.13 trillion was recorded under “Energy Security” in 2024, a figure he said rose to about N17.5 trillion when other fuel-related costs and receivables reflected in the accounts are included.

He argued that the scale of the expenditure raises serious questions that deserve immediate public explanation.

“Only a few years ago, Nigerians debated a pipeline surveillance contract worth about N48 billion. Today, the audited accounts record N7.13 trillion under ‘Energy Security’ for 2024. When other fuel-related costs and receivables reflected in the accounts are taken into consideration, the amount rises to about N17.5 trillion,” Abdullahi said.

The ADC maintained that while safeguarding Nigeria’s oil and gas infrastructure remains a legitimate national priority, spending under the guise of security should not be shielded from public scrutiny.

“The bigger the bill, the stronger the obligation to explain it,” he added.

The party also referenced public reports identifying Tantita Security Services Nigeria Ltd., a company linked to former Niger Delta militant leader Government Ekpemupolo, popularly known as Tompolo, as a major beneficiary of pipeline surveillance contracts.

It noted that Tompolo has recently emerged as a prominent supporter of President Tinubu’s re-election campaign, arguing that the development makes transparency over the contracts even more necessary.

According to the ADC, Nigerians deserve to know whether public funds allocated for pipeline protection are being used strictly for national security purposes or whether they have become intertwined with political activities.

The party therefore demanded details of all energy security and pipeline surveillance contracts awarded since Tinubu assumed office in May 2023.

“In this regard, Nigerians are entitled to know how much has been spent on pipeline surveillance and energy security since President Bola Tinubu came into office in May 2023, who received the contracts, how much was paid, what results were achieved, and whether any independent value-for-money assessment was carried out,” Abdullahi stated.

Abdullahi said the questions had become even more urgent at a time many Nigerians are struggling with rising food prices, transport costs, electricity tariffs and unemployment.

The ADC consequently urged President Tinubu, the management and board of NNPC Ltd., as well as the relevant committees of the National Assembly, to immediately publish the full details of the energy security expenditure.

“The question is no longer how much was spent. The question is what Nigeria has to show for it,” the statement concluded.

Energy security: ADC challenges Tinubu govt over NNPC N17.5tn spending