ADC Demands Answers On NNPC’s N7.13tn Energy Security Spending

The African Democratic Congress has asked President Bola Tinubu, NNPC Ltd and the National Assembly to explain N7.13tn recorded as energy security spending in NNPC’s 2024 audited accounts.

The opposition party said Nigerians deserve a clear breakdown of what the money paid for, who received payments and what results the spending produced.

Daily Post reported that ADC National Publicity Secretary Bolaji Abdullahi said the figure rises to about N17.5tn when other fuel-related costs and receivables in the accounts are added. Vanguard reported the party as saying the question is whether the spending produced safer oil infrastructure, stronger energy security, better revenues and benefits for Nigerians.

The ADC called for details of beneficiaries, payments made, outcomes achieved and any independent value-for-money assessment of the expenditure. It said the explanation should come from the Presidency, NNPC’s board and management, and relevant committees of the National Assembly.

The party compared the current figure with earlier public debate over a pipeline surveillance contract worth about N48bn, arguing that the much larger energy security line requires public scrutiny.

Sources: Daily Post, Vanguard