Former Vice-President Atiku Abubakar has called on the Tinubu administration to disclose details of the Nigerian National Petroleum Company Limited’s ₦11.2 trillion receivables from the Federation, including expenditure on pipeline security and payments to contractors. Atiku, the African Democratic Congress presidential candidate, also demanded the publication of contracts, payment records and project outcomes linked to oil and gas infrastructure protection.
In a statement issued by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku questioned how much of the amount was spent on pipeline surveillance, the beneficiaries of the payments and the results achieved. “NNPC’s 2024 accounts recorded roughly ₦17.5 trillion across different claims on the Federation, including petrol under-recovery and other receivables linked to advances and asset protection,” he said. “Its 2025 accounts now show approximately ₦11.2 trillion in other receivables from the Federation”.
Atiku compared the ₦11.2 trillion in receivables with the approximately ₦3.1 trillion allocated to the Ministry of Defence in 2025, arguing that Nigerians deserved greater transparency in public spending on security. He specifically questioned the pipeline surveillance contract held by Tantita Security Services Nigeria Limited and the Lagos-Calabar Coastal Highway contract awarded to a company linked to the Chagoury family.
This mirrors the long-standing opacity of NNPC’s financial dealings with the Federation. The corporation has historically operated as a state within a state, with limited external scrutiny of its receivables, subsidies and contracts. The Petroleum Industry Act of 2021 introduced some transparency requirements, but NNPC remains a dominant actor in public finances without the level of disclosure expected of a company managing federation assets.
Atiku also called for disclosure of any financial or material support provided by government contractors to Tinubu’s re-election activities. He alleged that potential links between public contracts and political financing required clarification.
The human stakes are about public money. The ₦11.2 trillion in receivables is a claim on the Federation Account. Every naira that NNPC holds as a receivable is a naira that is not available for roads, hospitals or schools. If the money was spent on pipeline security, Nigerians deserve to know what they got for it.
Winners and Losers
Winners: Atiku, who gains a platform to criticise the administration on transparency ahead of 2027. Opposition parties, which can use the receivables issue to argue that the government is not accountable.
Losers: The Tinubu administration, which faces renewed scrutiny over NNPC’s finances. Pipeline security contractors, whose contracts and payments may be exposed to public review. The Federation Account, which is owed money it may never recover.
Bottom Line: ₦11.2 trillion is not a rounding error. It is a claim on Nigeria’s collective wealth. Atiku is asking where it went and what it bought. The government has not answered. Until it does, the suspicion will remain.