Former Vice President Atiku Abubakar has launched a blistering criticism against the Federal Government over reports that the Nigerian National Petroleum Company Limited (NNPCL) incurred a staggering N17.5 trillion in security and subsidy-linked costs in a single year. The former Vice President described the figure as unprecedented and deeply alarming.

In a powerful statement released from his media office on Sunday, Atiku asserted that the revelation, drawn from NNPCL’s financial statements for 2024, stands as one of the most brazen financial scandals in the nation’s history. Analysts have since confirmed the N17.5 trillion total, which includes substantial amounts for pipeline protection and energy security operations.

The statement drew a sharp comparison to Nigeria’s historic expenditure on fuel subsidy. The former Vice President noted that Nigeria spent roughly N18 trillion on fuel subsidy over a period of twelve years, a national program that directly cushioned millions of citizens, stabilized the transport sector, and helped to keep food prices manageable.

Atiku pointed out the damning irony: the Tinubu administration has now channeled almost the same astronomical amount in a single year into what he calls opaque security contracts and other associated costs. The NNPCL report revealed that N7.13 trillion was spent on energy security costs, with the remainder linked to under-recovery and other advances to the federation.