NNPCL under scrutiny over N11.2trn pipeline security spending amid hardship

Energy experts person raised superior questions implicit the Nigerian National Petroleum Company Limited, NNPCL, N11.2 trillion spending connected pipeline surveillance and security, arsenic contained successful its 2025 audited fiscal statement.

Recall that past week, NNPCL released its audited 2025 fiscal statement.

The state-owned lipid steadfast declared that its Profit After Tax (PAT) roseate by 33 per cent to N7.2 trillion from N5.4 trillion successful 2024. However, its gross declined by 24 per cent to N34.5 trillion.

Part of the study showed that NNPCL spent N11.2 trillion connected “pipeline surveillance and different receivables from federation,” relating to “advance payments to the federation and costs incurred to unafraid the country’s lipid and state assets.”

Although NNPCL said determination was nary wealth spent connected “energy security,” which it referred to arsenic expenditure connected substance subsidy, the N11.2 trillion spent connected pipeline information has continued to make controversy.

This comes arsenic the N11.2 trillion expenditure exceeded the N7.2 trillion PAT recorded by NNPCL during the play nether review.

Recall that successful 2024, NNPCL spent N7.1 trillion connected vigor information and a comb...