Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
Former Vice President and African Democratic Congress, ADC, presidential candidate Atiku Abubakar has demanded a full account of the ₦11.2 trillion recorded by the Nigerian National Petroleum Company Limited, NNPCL, as receivables from the Federation, while challenging President Bola Ahmed Tinubu to disclose who is financing his 2027 re-election campaign.
Atiku made the demands in a statement issued on Sunday, October 4, 2026, by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council.
The former vice president’s demand followed the publication of NNPCL’s 2025 audited financial statements, which showed approximately ₦11.2 trillion under “other receivables from Federation.” The accounts said the figure included advances to the Federation and costs incurred in securing Nigeria’s oil and gas assets.
Atiku said Nigerians deserved to know exactly how much of the amount was spent on protecting pipelines and other petroleum infrastructure, who received the payments and what results were achieved.
“Nigerians cannot tell from these totals what was spent on pipeline surveillance. What was paid? Who was paid? For what work? Where are the results?” Atiku asked.
He called on Tinubu’s administration to publish the contracts, payment records and outcomes associated with the protection of the country’s oil and gas infrastructure.
According to reports on the statement, Atiku argued that the scale of the receivables warranted greater public scrutiny, particularly against the backdrop of Nigeria’s security challenges and the government’s spending priorities.
He compared the ₦11.2 trillion NNPCL receivables with approximately ₦3.1 trillion allocated to the Ministry of Defence in the 2025 budget, while acknowledging that the figures belonged to different accounting categories.
Atiku said Nigerians should not have to rely on a broad figure in NNPCL’s accounts without being given the underlying information needed to determine how the money was incurred and whether the claimed expenditure produced measurable results.
The ADC candidate also broadened his criticism to government contracts and alleged links between some contractors and Tinubu’s 2027 re-election activities.
He specifically mentioned Tantita Security Services Nigeria Limited, which has a pipeline security contract, and its founder, Government Ekpemupolo, popularly known as Tompolo. Atiku questioned whether contractors benefiting from government contracts had provided financial or material support for Tinubu’s re-election campaign.
He also raised questions about the Lagos-Calabar Coastal Highway contract involving a company linked to the Chagoury family.
Atiku demanded that the government release documents relating to the award, including invitations, competing bids, evaluation records and the contract itself. He questioned the use of restricted bidding for the project and called for greater transparency around the procurement process.
The former vice president further challenged Tinubu to disclose what government contractors had received from the administration and whether any of them had contributed money, vehicles or other forms of support to his 2027 campaign.
“Tinubu must disclose what these contractors have received from the government and whether they have given a naira, a vehicle or any other support to his re-election,” Atiku said.
The allegations concerning possible links between government contracts and campaign financing are political claims made by Atiku and his campaign. The reports reviewed did not establish that the contractors named by him had illegally financed Tinubu’s campaign.
The ₦11.2 trillion figure also requires some accounting context.
NNPCL’s 2025 financial statements classify the amount as receivables from the Federation rather than simply describing it as a single cash expenditure made during 2025. The company’s arrangement with the Federal Government allows NNPCL to incur certain costs associated with protecting Nigeria’s oil and gas assets and subsequently recover those costs from the Federation as energy-security expenses.
This distinction is important because the ₦11.2 trillion figure should not automatically be interpreted as ₦11.2 trillion in new spending incurred entirely within the 2025 financial year.
Atiku nevertheless argued that the government should provide Nigerians with a detailed breakdown of the receivables and the contracts and transactions underlying them.
The controversy comes amid continued public debate over transparency in the management of Nigeria’s oil resources and NNPCL’s financial dealings with the Federation.
In July 2026, the Socio-Economic Rights and Accountability Project, SERAP, also commenced legal action seeking explanations and supporting documents concerning more than ₦211 trillion recorded in NNPCL’s 2023 audited financial statements under “Sundry Receivables” and “Accrued Expenses.” That separate case concerned different accounting entries from the ₦11.2 trillion cited by Atiku.
Atiku’s latest demand therefore places renewed political attention on NNPCL’s accounts, pipeline security expenditure and the relationship between government contracting and political financing ahead of the 2027 elections.
He also criticised the Tinubu administration’s handling of the economy, arguing that Nigerians were facing rising living costs while significant public resources were being committed to oil-sector obligations.
The ADC presidential candidate said the government should be able to explain major expenditures involving public resources and provide documents that would allow Nigerians to scrutinise the transactions.
His demand comes as political parties intensify preparations for the 2027 presidential election, with Atiku seeking to challenge Tinubu on the ADC platform.
The Presidency and the contractors mentioned in Atiku’s statement were not represented in the reports reviewed with responses specifically addressing his latest allegations. The claims about campaign financing therefore remain allegations requiring evidence and clarification from the parties involved.
At the centre of the dispute is whether the ₦11.2 trillion recorded as NNPCL’s other receivables from the Federation can be sufficiently broken down to show the specific obligations, contracts, payments and outcomes behind the figure.
Atiku is demanding that those details be made public, while also asking Tinubu to identify the individuals and companies funding his 2027 re-election campaign.
The demands have added a fresh layer to the political debate over NNPCL’s finances, oil-sector accountability and campaign funding as Nigeria moves closer to the 2027 general elections.
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