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NNPC's N7.13tn: What does Nigeria have to show for it, ADC asks
🇳🇬 Nigeria /Economy & Trade

NNPC's N7.13tn: What does Nigeria have to show for it, ADC asks

From Vanguard · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

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  • Nigeria's African Democratic Congress (ADC) demands accountability for N7.13 trillion spent on "energy security" by NNPC Ltd.
  • The party questions the tangible benefits for Nigerians given the massive expenditure amid economic hardship.
  • ADC calls for a detailed breakdown of spending, including beneficiaries and outcomes, and links transparency to pipeline surveillance contracts.

Nigeria's opposition African Democratic Congress (ADC) is demanding a full accounting of the N7.13 trillion spent on "energy security" by the Nigerian National Petroleum Company Limited (NNPC Ltd.). The party insists Nigerians deserve to know what the country has gained from this significant expenditure, especially during a period of severe economic difficulties.

Mallam Bolaji Abdullahi, the ADC’s National Publicity Secretary, stated that the core issue is not just the amount spent but whether these public funds have translated into improved energy security, safer infrastructure, and tangible benefits for ordinary citizens. The party urged President Bola Tinubu, NNPC Ltd. management, and the National Assembly to release a comprehensive breakdown of the expenditure, detailing who received payments, the outcomes achieved, and any independent value-for-money assessments.

Nigerians deserve to know what accounts for such an extraordinary escalation and, more importantly, what value the country has received in return.

— African Democratic Congress (ADC)The ADC's statement questioning the massive "energy security" expenditure by NNPC Ltd.

The ADC also drew a connection between the demand for transparency and the pipeline surveillance contracts awarded to Government Ekpemupolo, also known as Tompolo. The party noted Ekpemupolo's role in President Tinubu's re-election campaign, emphasizing the need for the government to prove that funds allocated for pipeline security are used exclusively for protecting national assets and not for political activities.

The party highlighted that the N7.13 trillion recorded under "Energy Security" in NNPC Ltd.'s audited 2024 accounts represents a dramatic increase from previous pipeline surveillance contracts. When other fuel-related costs are included, the total amount reportedly rises to approximately N17.5 trillion. The ADC stressed that while protecting oil and gas infrastructure is a national priority, such security spending should not be exempt from public scrutiny, stating, "The bigger the bill, the stronger the obligation to explain it."

The bigger the bill, the stronger the obligation to explain it.

— African Democratic Congress (ADC)The ADC's stance on the need for public scrutiny of security-related spending.
DistantNews Editorial

Originally published by Vanguard in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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