NNPCL under scrutiny over N11.2trn pipeline security spending amid hardship
Energy experts have raised serious questions over the Nigerian National Petroleum Company Limited, NNPCL, N11.2 trillion spending on pipeline surveillance and security, as contained in its 2025 audited financial statement. Recall that last week, NNPCL released its audited 2025 financial statement. The state-owned oil firm declared that its Profit After Tax (PAT) rose by 33 […] NNPCL under…
Nigeria's state-owned oil company, NNPCL, has come under intense scrutiny over its massive pipeline surveillance and security spending of N11.2 trillion detailed in its audited 2025 financial statement. While NNPCL reported a 33% increase in profit after tax to N7.2 trillion, revenue fell by 24% to N34.5 trillion. The N11.2 trillion allocated to pipeline security has sparked controversy as it exceeded the N7.2 trillion profit recorded by NNPCL.
Presidential candidate Atiku Abubakar has demanded an explanation from President Tinubu's administration regarding the use of these funds, which amounts to nearly N3.1 trillion more than the defence budget allocation. Energy experts argue that while pipeline security is essential, the value derived from the spending should be evaluated and there should be greater transparency around how the funds are being used.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
