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Former VP Atiku Abubakar criticizes FG for allegedly spending N17.5 trillion on pipeline security in a single year.
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Atiku compares the spending to 12 years of fuel subsidy, highlighting concerns over transparency and governance.
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Ex-VP warns that opaque security contracts favor presidential associates, calling it “grand larceny dressed as public expenditure.”
Former Vice President Atiku Abubakar has criticized the Federal Government over reports that the Nigerian National Petroleum Company Limited (NNPC Ltd.) spent N17.5 trillion in a single year on securing fuel pipelines. He described the revelation as unprecedented, alarming, and a major financial scandal.
Atiku made the remarks on Sunday in a statement from his media office, noting that the alleged spending rivals Nigeria’s total fuel subsidy expenditure over more than a decade.
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“For clarity, Nigeria spent roughly N18 trillion on fuel subsidy over a period of 12 years, a national programme that directly cushioned millions of Nigerians, stabilised the transport sector, and helped keep food prices manageable,” the statement said.
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According to Atiku, the Tinubu administration channeled almost the same amount in just a single year into opaque security contracts.
“Yet, under President Bola Ahmed Tinubu, the country has now expended nearly the same amount in a single year on the same subsidy and opaque pipeline security contracts awarded to private firms tied to associates and cronies of the President. 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 added.
The former Vice President also questioned the justification for subsidy removal, highlighting the hardship Nigerians were told to endure.
He noted that N17.5 trillion could have been used to transform critical sectors, including the power sector, refineries, or universal healthcare, rather than funding opaque contracts benefiting political allies.
