African Democratic Congress (ADC) has called on President Bola Ahmed Tinubu, the Nigerian National Petroleum Company Limited (NNPC Ltd.) and the National Assembly to disclose the full details of the company’s energy security spending, following the release of its audited 2024 financial statements.
The opposition party said the figures contained in the audited accounts raise serious questions that require public explanation, particularly in view of the significant increase in expenditure recorded under energy security.
In a statement issued on Tuesday by its National Publicity Secretary, Abdulrahman Bolaji, the ADC said Nigerians deserve a comprehensive account of how public funds allocated for protecting the nation’s oil and gas infrastructure have been spent.
According to the party, while previous public debates centred on a pipeline surveillance contract reportedly valued at about ₦48 billion, the latest audited accounts showed that NNPC Ltd. recorded ₦7.13 trillion under “Energy Security” in the 2024 financial year.
The party added that when other fuel-related costs and receivables reflected in the accounts are considered, the figure rises to about ₦17.5 trillion.
The ADC said: “The figures raise questions that cannot be ignored by the Tinubu-led APC government. 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. Nigerians deserve to know what accounts for such an extraordinary escalation and, more importantly, what value the country has received in return.”
The party stressed that safeguarding Nigeria’s oil and gas infrastructure remains a legitimate national responsibility but insisted that such expenditure must be subject to public accountability.
“As a responsible political party, the ADC recognises that protecting Nigeria’s oil and gas infrastructure is a legitimate national priority. But spending in the name of security cannot be exempt from public scrutiny. The bigger the bill, the stronger the obligation to explain it,” the statement said.
The ADC also referenced public reports identifying Tantita Security Services Nigeria Ltd., a company linked to Government Ekpemupolo, popularly known as Tompolo, as a major recipient of pipeline surveillance contracts.
It further noted Tompolo’s recent involvement in mobilising support for President Tinubu’s re-election bid, saying the development makes transparency over public spending even more necessary.
The statement said: “Public reports have consistently identified Tantita Security Services Nigeria Ltd., a company linked to Government Ekpemupolo (Tompolo), as a major beneficiary of pipeline surveillance contracts. At the same time, Government Ekpemupolo has recently emerged as a prominent mobiliser for President Tinubu’s re-election campaign. These are facts that make transparency even more imperative. Nigerians are entitled to ask whether public funds appropriated for pipeline security are being used solely to protect critical national assets, or whether the lines between state expenditure and political mobilisation have become blurred.”
The party demanded details of all pipeline surveillance and energy security contracts awarded since President Tinubu assumed office in May 2023.
It said Nigerians have a right to know the total amount spent, the beneficiaries of the contracts, payments made, results achieved and whether independent value-for-money assessments were conducted.
“These are ordinary questions that, in any democracy, should attract ordinary answers,” the statement added.
The ADC argued that the demand for accountability comes at a time when many Nigerians are grappling with economic hardship, rising living costs and unemployment.
“At a time when families are struggling with the cost of food, transport and electricity, when businesses are closing their doors and young people cannot find jobs, Nigerians have a right to ask whether the trillions of Naira spent in the name of energy security have made the country more secure, the economy more productive, or the lives of ordinary citizens any better. If the answer is yes, the government should have no difficulty showing Nigerians the evidence,” the party stated.
The opposition party therefore urged President Tinubu, the Board and Management of NNPC Ltd. and the relevant committees of the National Assembly to immediately make public the full details of the energy security expenditure.
It said “The question is no longer how much was spent. The question is what Nigeria has to show for it.”
