The African Democratic Congress (ADC) has raised the alarm over the Federal Government’s proposed amendments to the Petroleum Industry Act (PIA) and the planned sale of Nigerian National Petroleum Company Limited (NNPC Ltd)’s equity in highly profitable joint ventures.
Speaking at a press conference in Abuja on Wednesday, to mark Nigeria’s 65th independence anniversary, Mallam Bolaji Abdullahi, National Publicity Secretary of the ADC, said the move amounts to economic sabotage and a dangerous surrender of Nigeria’s sovereignty.
“If we sell off our oil assets, we are not just parting with numbers on a balance sheet; we are surrendering the lifeblood of our economy and the backbone of our national sovereignty,” Abdullahi declared.
The ADC fully aligned itself with the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), who had earlier petitioned President Bola Ahmed Tinubu to reject both the proposed PIA amendments and the asset sales.
Abdullahi warned that the proposed policies are part of “a deliberate and calculated effort to hollow out NNPC Limited, dismantle institutional checks and balances, and pave the way for a fire-sale of Nigeria’s most valuable assets to private, politically connected interests.”
According to him, the consequences will be devastating: loss of jobs, crippling debts for NNPC, sharp declines in government revenue, and the destruction of the economic safety net for millions of Nigerians.
He further stressed that the 65th independence anniversary comes at a time when Nigerians are trapped in worsening poverty, insecurity, and disillusionment, accusing President Tinubu and the APC of gross economic mismanagement.
ADC’s Position & Demands
The African Democratic Congress (ADC) demands that:
1. No Amendment to the PIA should be carried out without broad national consultation and legislative scrutiny.
2. NNPC Assets Must Not Be Sold – Nigeria’s energy sovereignty cannot be mortgaged to private and politically connected interests.
3. Transparent Energy Governance – All revenues and operations of NNPC Limited must be subject to strict accountability and oversight.
4. Economic Reform with Human Face – Government must cushion the hardship of reforms with measures to reduce inflation, protect jobs, and support small businesses.
5. Comprehensive Security Strategy – The Federal Government must urgently unveil and implement a clear, coordinated, and citizen-focused security plan to end terrorism, banditry, and kidnappings.
“Most dangerously of all, selling our oil assets would set an irreversible precedent—turning our commonwealth into private property and leaving future generations with nothing but memories of what was once theirs,” Abdullahi warned.
The ADC called on Nigerians, civil society groups, and labour unions to resist every attempt to auction the nation’s heritage under the guise of reform, insisting that national resources must remain in the hands of the people, not a privileged few.
ENDS….
