NNPC’s reported $8 billion security bill draws calls for scrutiny
Published in Brief No. 1 ·
Semafor reports that NNPC Ltd disclosed about $8 billion of 2025 spending on protecting energy infrastructure, 26% more than the previous year, prompting analysts and political figures to ask who was paid and for what. The same accounts show post-tax profit up 33% to $5.4 billion while revenue fell 24%. NNPC did not comment to Semafor.
Pipeline-security and services contracts are a known FCPA and UK Bribery Act risk area. Joint-venture partners, lenders and contractors should expect, and conduct, deeper due diligence on NNPC-linked security spending, especially in the run-up to the January elections.
Sources: Semafor ↗
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