A coalition of energy consultants under the aegis of the Association of Energy Policy and Development Consultants (AEPDC) has demanded explanations from the Nigerian National Petroleum Company Limited (NNPCL) over about ₦7.13 trillion reportedly spent on energy security and pipeline protection.

The association also questioned the transparency of the national oil company’s financial management, arguing that the scale of the expenditure requires detailed disclosure and independent scrutiny.

In a statement signed by its National President, Dr. Ibrahim Danjuma, on Friday in Abuja, the group expressed concern over figures contained in NNPCL’s 2024 financial records, which it said showed total claims and under-recovery costs of about ₦17.5 trillion.

According to the consultants, approximately ₦7.13 trillion of the amount was categorised as energy security and pipeline protection expenditure.

The association said it recognised the importance of protecting critical oil and gas infrastructure to the country’s economic stability but insisted that expenditures running into trillions of naira should be accompanied by comprehensive disclosures, measurable outcomes and independent accountability.

The group demanded details of the contractors involved, procurement processes adopted, duration of the contracts, performance benchmarks and the value delivered to the country.

“Energy security cannot become a blanket description under which every expenditure is concealed from public scrutiny. Such an approach is inconsistent with globally accepted principles of corporate governance and transparency,” the association said.

The consultants also raised concerns over the outcome of a joint investigation by relevant National Assembly committees into energy security contracts and related expenditures.

It said Nigerians were yet to receive a comprehensive public report on the outcome of the investigation and urged the lawmakers to conclude the exercise and make their findings available.

The association said the absence of publicly available findings had continued to fuel questions over whether the huge sums reportedly committed to energy security represented prudent investments or reflected weaknesses in the management of petroleum resources.

“The silence surrounding this investigation only fuels public suspicion. Nigerians have every right to know whether the enormous sums claimed under energy security represent prudent investments or whether systemic weaknesses exist that require urgent corrective action,” it said.

The group further expressed concern over what it described as a growing perception that opaque financial arrangements could be creating subsidy-like obligations through indirect mechanisms.

It argued that the continued emergence of substantial claims under different classifications could make it difficult for Nigerians to fully understand the financial implications of the government’s fuel subsidy removal policy.

“It is difficult to convince Nigerians that subsidy has ended when massive claims continue to emerge under various classifications whose operational details remain largely unavailable for public scrutiny,” the consultants said.

The association, however, stressed that the classification of the expenditures did not by itself establish wrongdoing, but maintained that NNPCL had a responsibility to provide verifiable explanations for the spending.

It said a commercially driven national oil company should operate with openness and accountability, rather than rely on broad financial classifications that leave the public with unanswered questions.

The consultants also questioned the leadership of NNPCL Group Chief Executive Officer, Bayo Ojulari, arguing that the company needed to restore confidence through greater transparency, timely disclosures and stronger corporate governance.

The association said if the NNPCL leadership could not inspire confidence through accountable management, Ojulari should consider stepping aside in the interest of the institution and the country.

“Leadership is ultimately measured not only by operational performance but also by the confidence it inspires among stakeholders,” it said.

The group called on the Federal Government to strengthen oversight of NNPCL and ensure that expenditures relating to energy security, pipeline surveillance and strategic infrastructure protection are subjected to periodic independent audits and public reporting.

It also urged the National Assembly to intensify its oversight of the national oil company and ensure that Nigerians have access to sufficient information on the deployment of funds allocated to protecting the country’s petroleum assets.

The association maintained that restoring public confidence in NNPCL would require institutional transparency, rigorous legislative oversight and demonstrable accountability in the management of Nigeria’s petroleum resources.