The African Democratic Congress (ADC) has voiced strong opposition to the Federal Government’s plan to alter the Petroleum Industry Act (PIA) and dispose of Nigerian National Petroleum Company Limited’s (NNPC Ltd) interests in some joint ventures.
At a press briefing in Abuja on Wednesday, held to mark Nigeria’s 65th Independence Day, ADC National Publicity Secretary, Mallam Bolaji Abdullahi, said the initiative would weaken the nation’s financial backbone and erode its independence.
“This is not just about selling assets; it is about selling our future. Once we give away these oil stakes, we are trading off the very source of our economic stability and national authority,” Abdullahi stated.
The party’s position aligns with that of the oil unions, NUPENG and PENGASSAN, who had earlier petitioned President Bola Tinubu against the proposal. Abdullahi described the planned disposal as a deliberate move to strip NNPC Ltd of its strength while transferring Nigeria’s collective resources to a few privileged allies of those in power.
He warned that selling the oil assets would cut government income, push the country into more debt, take away jobs, and leave little money for schools, hospitals, pensions, and roads. “If this happens,” Abdullahi said, “our children will inherit nothing but empty promises.”
Turning to governance and the economy, Abdullahi accused the APC administration of failing Nigerians. He pointed to surging inflation, loss of consumer power, and worsening poverty as signs of mismanagement.
“At 65, our country should be marching forward, yet the so-called renewed hope has become a harvest of despair,” he said.
On security, he pointed out that Boko Haram, ISWAP, and bandits are still killing and kidnapping people, even in Abuja. He said the government has no clear plan to stop the violence and described the security system as “broken, exploitative, and failing to protect ordinary Nigerians.”
He further lamented strikes, mass protests, deteriorating infrastructure, and record youth unemployment, which he said reveal a “systemic collapse of trust in public institutions.”
The ADC spokesman urged citizens, civil society groups, labour leaders, parliamentarians, and especially young Nigerians to resist the attempt to amend the PIA and sell off oil assets. “Civil society must hold its ground. The legislature must not compromise. Young people must rise, demand openness, and reclaim their future,” Abdullahi appealed.
The article was originally published on Politics Nigeria.
