ADC Alleges Tinubu Govt Plans to Sell Off NNPCL

By: Chioma Madonna Ndukwu

ADC Alleges Tinubu Govt Plans to Sell Off NNPCL

The African Democratic Congress (ADC) has accused President Bola Ahmed Tinubu’s government of plotting to privatise the Nigerian National Petroleum Company Limited (NNPCL), warning that such a move would amount to selling Nigeria’s most valuable national asset to private interests.

Speaking at a press conference in Abuja to mark the nation’s 65th Independence Anniversary, the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, said the ADC fully supports oil sector unions in rejecting proposed amendments to the Petroleum Industry Act (PIA).

He alleged that the government’s plan is to strip NNPCL of its profitable ventures and hand them to political allies.

“This is a calculated attempt to hollow out NNPCL and hand Nigeria’s oil wealth to cronies at the expense of 200 million citizens. It is not reform, it is regression, and it must be resisted,” Abdullahi said.

The Petroleum Industry Act, signed into law in 2021, was intended to restructure Nigeria’s oil and gas sector, promote transparency, and attract investment.

However, reports that the Tinubu administration is considering changes to the law have raised concerns that public ownership of NNPCL could be weakened.

Labour unions, including the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have already written to the presidency opposing any amendment that could open the way for asset sales.

The ADC warned that selling NNPCL’s equity in joint ventures would undermine Nigeria’s energy security, reduce government control over the oil sector, and leave the economy vulnerable to the interests of private business owners.

“If we part with our oil assets, we are not just giving up figures on paper — we are surrendering the backbone of our economy and our national sovereignty,” Abdullahi added.

The party also criticised the Tinubu government for worsening poverty, unemployment, and insecurity, saying Nigerians are yet to feel the “renewed hope” promised during the elections.

It called on citizens, civil society, and labour groups to resist what it described as “the plunder of Nigeria’s resources,” insisting that the nation at 65 must protect its wealth for future generations.

“At this stage in our history, Nigeria must stand for the people, not for politics or profit,” Abdullahi declared.

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Chioma Ndukwu

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