NNPCL's N11.2tn pipeline security spend under scrutiny by experts
NNPCL's 2025 audited financial statement, released last week, shows the firm spent N11.2 trillion on pipeline surveillance and other receivables from the federation, even as its profit after tax rose 33% to N7.2 trillion and revenue fell 24% to N34.5 trillion. The security spend exceeds the N7.2 trillion profit, drawing criticism from politicians and experts who question its value and transparency.
Atiku Abubakar demanded President Tinubu's administration detail the N11.2 trillion expenditure, noting it dwarfs the nation's N3.1 trillion defence budget. Energy expert Prof. Wumi Iledare urged professional scepticism, asking what value Nigeria derived from the spend. Barr. Ameh Madaki alleged the pipeline surveillance system could be a vehicle for diverting funds ahead of the 2027 general elections, calling it a criminal enterprise. Chuks Emeka acknowledged the necessity of securing oil and gas infrastructure but stressed the need for a detailed breakdown of costs, measurable results, and transparent, independently auditable contracts.
Emeka also noted that improved pipeline security may have contributed to rising crude output, which NNPC says reached about 1.71 million barrels per day in 2025 from low levels in 2022. With Nigerians facing cost-of-living pressures, experts insist every trillion naira committed by the government must be scrutinised for efficiency and accountability.