…Atiku Demands Full Account, Questions Why Oil Sector Security Dwarfs Defence Budget
CDA News Nigeria reports that the Nigerian National Petroleum Company Limited (NNPCL) faces fresh scrutiny over N11.2 trillion recorded in its 2025 accounts as receivables from the Federation, including costs to protect the country’s oil and gas assets.
CDA News Nigeria gathered that the figure, disclosed in the company’s 2025 audited financial statements, has prompted former Vice President Atiku Abubakar, who is seeking the presidency in 2027 on the platform of the African Democratic Congress (ADC), to demand full disclosure.
Atiku, in a statement by the Director of Strategic Communication of the ADC Presidential Campaign Council, Phrank Shaibu, said Nigerians deserve to know how much of the amount went to guarding pipelines, who received the money, and what protection it bought.
“NNPC’s 2024 accounts recorded roughly N17.5 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 N11.2 trillion in other receivables from the Federation,” Atiku said.
He compared the N11.2 trillion with the approximately N3.1 trillion allocated to the Ministry of Defence in 2025, arguing that the disparity warranted greater public scrutiny of government expenditure and priorities.
NNPCL’s audited accounts explained that the N11.2 trillion relates to advance payments to the Federation and security costs incurred in protecting oil and gas assets under an approved framework between the Federal Government and the Group.
Atiku also questioned the pipeline surveillance contract held by Tantita Security Services Nigeria Limited and the Lagos-Calabar Coastal Highway contract awarded to a company linked to the Chagoury family, demanding that the government publish contract documents, bidding procedures, and payment records.
CDA News Nigeria reports that the Presidency and the companies mentioned were not represented in the statement, and the allegations concerning contract awards and possible campaign financing were not independently established.
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