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Scrutiny over NNPCL spending in Nigeria amid political activity

1 report, 1 independent Updated 00:00
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What happened

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NNPCL released its 2025 audited financial statement, which showed Profit After Tax rose by 33 per cent to N7.2 trillion, while revenue declined by 24 per cent to N34.5 trillion. The company reported spending N11.2 trillion on pipeline surveillance, an amount that exceeded its recorded Profit After Tax. Atiku Abubakar, the presidential candidate for the African Democratic Congress, demanded that the administration provide details on this expenditure.

From dailypost.ng

Why it matters

Some supportBrind's analysis of the reports

The N11.2 trillion spent on pipeline security, which surpassed NNPCL's Profit After Tax, has generated controversy regarding state spending in Nigeria. Atiku Abubakar's demand for transparency puts pressure on the federal government regarding fiscal accountability.

From dailypost.ng

Who's involved

  • NigeriaSovereign state where the spending and political events are taking place
  • African Democratic CongressNigerian political party whose candidate is involved in the scrutiny
  • Atiku AbubakarPresidential candidate who demanded financial details of NNPCL's spending
  • Bola Ahmed TinubuPresident of Nigeria whose administration is being challenged over spending

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