Moses Ofodeme
Following wave of alleged unaccounted dealing by the state oil company, the Nigerian National Petroleum Company Limited (NNPCL) former Vice President of Nigeria, Atiku Abubakar has raised the red flag alleging massive irregularities in the process of releasing funds, contracting and records in the company.
Atiku, who is the Presidential candidate of the African Democratic Congress (ADC), on Sunday demanded a full account of the N11.2 trillion in the records of the Nigerian National Petroleum Company Limited, NNPCL.
He said President Bola Tinubu “must publish the contracts, payments, results, and disclose who is funding his re-election activities.”
In a statement by the Director of Strategic Communication of the ADC Presidential Campaign Council, Phrank Shaibu, Atiku said the NNPCL must disclose records of what it is “owed by the Federation for advances and costs that include protecting Nigeria’s oil and gas assets.”
“Bandits threaten schools. Travellers fear the highways. Families wait anxiously for loved ones to get home.
“Nigerians deserve to know how much of this enormous claim went to guarding pipelines, who received the money and what protection it bought.
“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.
“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.
“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?
“The scale of this imbalance is indefensible. In 2025, the Ministry of Defence received about N3.1 trillion, while NNPC recorded N11.2 trillion in other receivables from the Federation, more than three times the defence allocation.
“These figures belong to different accounting categories, but their contrast is stark: under Tinubu, sums tied to the oil sector dwarf the resources allocated to defend the country. That is a damning measure of this administration’s priorities.
“Think of the soldier sent to confront terrorists. Think of the parent waiting outside a school after hearing that bandits have struck. Think of the family unable to reach a loved one on the highway.
“They deserve more than one vast figure in NNPC’s accounts. Why can this government explain the need to protect a pipeline, but struggle to assure Nigerians that their own lives will be protected?”