NNPCL Faces Scrutiny Over ₦11.2 Trillion Security Spending

Concerns have arisen regarding the Nigerian National Petroleum Company Limited's (NNPCL) reported ₦11.2 trillion expenditure on pipeline surveillance and security in 2025, as outlined in its audited financial statements. This figure, categorized under “pipeline surveillance and other receivables from federation,” is linked to advance payments and costs for securing oil and gas assets.

Despite a 33% increase in Profit After Tax (PAT) from ₦5.4 trillion in 2024 to ₦7.2 trillion in 2025, NNPCL's revenue fell by 24% to ₦34.5 trillion. Former Vice President and 2027 African Democratic Congress presidential candidate, Atiku Abubakar, has urged President Bola Ahmed Tinubu’s administration to clarify the spending, which exceeds the country’s defense budget of approximately ₦3.1 trillion.

Energy expert Professor Wumi Iledare emphasized the need for NNPCL to demonstrate the value derived from this expenditure, while Barrister Ameh Madaki criticized the amount as excessive, calling for scrutiny of the pipeline surveillance system's effectiveness.