By Kazeem Waris
Former Vice President and presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has demanded a full account of the N11.2 trillion in receivables recorded by the Nigerian National Petroleum Company Limited, NNPCL, from the Federation, alleging that some government contracts may be connected to President Bola Tinubu’s 2027 re-election campaign.
Atiku specifically questioned spending on pipeline and oil infrastructure security, as well as the Lagos-Calabar Coastal Highway contract, demanding disclosure of the beneficiaries of the contracts and whether any of them had supported the President’s re-election campaign.
The N11.2 trillion figures is contained in NNPCL’s 2025 audited financial statements under “other receivables from the Federation.” The company said the amount relates to advances and costs incurred on behalf of the Federal Government, including expenses associated with protecting oil and gas assets under an approved framework. The accounts indicate that the figure should not be interpreted as fresh expenditure incurred entirely in 2025.
Atiku’s position was contained in a statement issued on Sunday by Phrank Shaibu, Director of Strategic Communication, ADC Presidential Campaign Council.
He demanded clarification on how much of the N11.2 trillion was spent on pipeline surveillance, who received the funds and what work was carried out.
“A mother should not have to pray her child survives the journey to school while her government cannot plainly explain the billions it spends on security. Tinubu must answer to the people living with these choices,” Atiku said.
He recalled that NNPCL’s 2024 accounts contained about N17.5 trillion in various claims on the Federation, including petrol under-recovery and other receivables linked to advances and asset protection.
“Nigerians cannot tell from these totals what was spent on pipeline surveillance. What was paid? Who was paid? For what work? Where are the results?” he asked.
Atiku also questioned the scale of the N11.2 trillion receivables against the approximately N3.1 trillion allocated to the Ministry of Defence in 2025, while acknowledging that the figures belonged to different accounting categories.
The former Vice President then turned his attention to contractors involved in government projects, citing Tantita’s pipeline security contract and the political activities of its founder, as well as the Lagos-Calabar Coastal Highway contract involving a company linked to the Chagoury family.
“Tinubu must disclose what these contractors have received from the government and whether they have given a naira, a vehicle or any other support to his re-election,” he said.
“Nigerians will not tighten their belts while the President’s associates collect contracts and the money behind his campaign remains hidden.”
Atiku also demanded the release of documents relating to the award of the Lagos-Calabar Coastal Highway contract, including invitations to bid, competing bids, evaluation reports and the contract itself.
He said the documents were necessary for Nigerians to scrutinise the process, particularly following the government’s position that the project was awarded through restricted bidding.
The former Vice President further criticised President Tinubu’s comments after returning from his four-week stay in Europe, which the Presidency described as a working vacation.
“Nigerians have had enough of hardship dressed up as reform. Tinubu made life expensive. I will make Nigeria affordable again,” Atiku said.
“Let this be the last year he asks Nigerians to suffer and applaud. In 2027, we will bring this chapter to an end.”
NNPCL’s 2025 accounts show that energy security cost receivables stood at N8.67 trillion at the end of the year, while other receivables from the Federation, including advances and security-related costs, brought the total to N11.2 trillion. The company said no new energy security expense was recognised in 2025, following a reconciliation of outstanding amounts against royalties, taxes and dividends due to the Federation.
