The African Democratic Congress (ADC) has accused President Bola Ahmed Tinubu’s administration and the ruling All Progressives Congress (APC) of planning to dispose of Nigeria’s collective wealth by allegedly pushing to privatise the Nigerian National Petroleum Company Limited (NNPCL).
Speaking at a press briefing in Abuja on Wednesday to mark Nigeria’s 65th Independence Anniversary, ADC National Publicity Secretary, Mallam Bolaji Abdullahi, said the party stands firmly with oil workers’ unions in opposing the proposed amendments to the Petroleum Industry Act (PIA) and the alleged scheme to offload NNPCL’s shares in profitable joint ventures to political associates and fronts.
“We are convinced that this action forms part of a deliberate and calculated effort to hollow out NNPCL, dismantle institutional checks and balances, and pave the way for the fire-sale of Nigeria’s most valuable national assets to private, politically-connected interests at the expense of 200 million Nigerians. They represent not reform, but regression — and they must be rejected,” Abdullahi said.
The party insisted that the move would compromise Nigeria’s energy independence, reduce its capacity to ensure stable fuel supply, and hand over the country’s economic lifeline to profit-focused private players.
“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 warned.
ADC faulted the Tinubu administration for what it described as “failures across all fronts,” citing deepening insecurity, rising inflation, and widespread poverty.
It noted that instead of delivering the “renewed hope” promised during campaigns, the government had brought hardship upon ordinary citizens.
“Insecurity remains perhaps the most damning indictment of APC’s misgovernance. Boko Haram and ISWAP still hold footholds in the North, banditry and kidnappings terrorise the Northwest, and the North Central continues to buckle under attacks,” Abdullahi said.
The party further lamented institutional decay, an underperforming power sector despite heavy funding, a fragile healthcare system, and historic levels of youth unemployment.
Citing a joint letter by the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to President Tinubu rejecting the amendments, ADC called on civil society, labour, and the public to resist what it called the “plunder” of national resources.
“At 65, Nigeria must not stand for power, profit, or politics. Nigeria must stand for the people,” Abdullahi declared.
The ADC reiterated its pledge to safeguard the nation’s assets, confront corruption, and defend the economic future of upcoming generations.
