The African Democratic Congress (ADC) has said that figures contained in the recently audited accounts of the Nigerian National Petroleum Company Limited (NNPC Ltd.) for the 2024 financial year raise questions that cannot be ignored by the Tinubu-led APC government.

The party recalled that only a few years ago, Nigerians debated a pipeline surveillance contract worth about N48 billion. It noted that today, the audited accounts record N7.13 trillion under “Energy Security” for 2024. The ADC said that when other fuel-related costs and receivables reflected in the accounts are taken into consideration, the amount rises to about N17.5 trillion.

“Nigerians deserve to know what accounts for such an extraordinary escalation and, more importantly, what value the country has received in return.

“As a responsible political party, the ADC recognises that protecting Nigeria’s oil and gas infrastructure is a legitimate national priority. But spending in the name of security cannot be exempt from public scrutiny. The bigger the bill, the stronger the obligation to explain it,” the party said.

The ADC noted that public reports have consistently identified Tantita Security Services Nigeria Ltd., a company linked to Government Ekpemupolo (Tompolo), as a major beneficiary of pipeline surveillance contracts. It highlighted that at the same time, Government Ekpemupolo has recently emerged as a prominent mobiliser for President Tinubu’s re-election campaign. The party cited these as facts that make transparency even more imperative.

“Nigerians are entitled to ask whether public funds appropriated for pipeline security are being used solely to protect critical national assets, or whether the lines between state expenditure and political mobilisation have become blurred.

“In this regard, Nigerians are entitled to know how much has been spent on pipeline surveillance and energy security since President Bola Tinubu came into office in May 2023, who received the contracts, how much was paid, what results were achieved, and whether any independent value-for-money assessment was carried out.

“These are ordinary questions that, in any democracy, should attract ordinary answers,” the party said.

The ADC lamented that at a time when families are struggling with the cost of food, transport and electricity, when businesses are closing their doors and young people cannot find jobs, Nigerians have a right to ask whether the trillions of Naira spent in the name of energy security have made the country more secure, the economy more productive, or the lives of ordinary citizens any better. “If the answer is yes, the government should have no difficulty showing Nigerians the evidence,” the party said.

It called on President Bola Ahmed Tinubu, the Board and Management of NNPC Ltd., and the relevant committees of the National Assembly to immediately publish the full details of the energy security expenditure.

“The question is no longer how much was spent. The question is what Nigeria has to show for it,” the ADC said.