ADC wants full account of N7.13trn ‘energy security’ spending

The African Democratic Congress (ADC) has asked the Federal Government and the Nigerian National Petroleum Company Limited (NNPC Ltd.) to provide a full breakdown of the N7.13 trillion listed as “energy security expenditure” in NNPC’s 2024 audited accounts.

The party, in a statement on Monday by its National Publicity Secretary, Mallam Bolaji Abdullahi, said such a huge sum demanded transparency on who got the money, what it was used for, what results were achieved, and an independent audit of the expenditure.

The ADC also flagged what it called a conflict of interest, noting that a private security firm publicly named as a major pipeline surveillance contractor is linked to a key mobiliser for President Bola Tinubu’s re-election campaign.

According to the party, that makes it critical for the government to prove that funds meant for pipeline security are not being diverted to partisan politics.

Abdullahi said as a responsible political party, the ADC recognised that protecting Nigeria’s oil and gas infrastructure is a legitimate national priority, but believed that spending in the name of security cannot be exempt from public scrutiny.

Part of the statement read, “The African Democratic Congress has taken note of the figures contained in the recently audited accounts of the Nigerian National Petroleum Company Limited (NNPC Ltd.) for the 2024 financial year.

“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. That represents an increase of almost 14,800 per cent over the figure that once provoked national outrage.

“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….

“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.

“In this regard, Nigerians are entitled to know how much has been spent on pipeline surveillance and energy security since President Bola Tinubu came into office in May 2023, who received the contracts, how much was paid, what results were achieved, and whether any independent value-for-money assessment was carried out.

“These are ordinary questions that, in any democracy, should attract ordinary answers.

“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 ADC therefore called on President Bola Ahmed Tinubu, the Board and Management of NNPC Ltd., and the relevant committees of the National Assembly to immediately publish full details of the energy security expenditure.

“The question is no longer how much was spent. The question is what Nigeria has to show for it,” the party said.