The African Democratic Congress (ADC) has expressed strong opposition to the Federal Government’s proposed amendments to the Petroleum Industry Act (PIA) and its plan to sell the Nigerian National Petroleum Company Limited (NNPC Ltd)’s equity in high-performing joint ventures. The party warned that such moves could undermine Nigeria’s economic sovereignty and jeopardize long-term national stability.
The concerns were raised during a press conference in Abuja on Wednesday, held to mark Nigeria’s 65th independence anniversary. Speaking on behalf of the party, Mallam Bolaji Abdullahi, the National Publicity Secretary of the ADC, cautioned that the proposed asset sales represent more than financial transactions.
“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’s stance aligns with that of 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, rejecting both the amendments to the PIA and the asset sales.
According to Abdullahi, the proposals appear to be “a deliberate and calculated effort to hollow out NNPC Limited, 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.”
He further warned that ceding control of the country’s most profitable oil assets to private entities would compromise Nigeria’s capacity to stabilize energy supply, mitigate global oil shocks, or develop long-term energy strategies. Abdullahi added that the move could also push NNPC into debt, threaten jobs, and slash revenues meant for schools, hospitals, infrastructure, and pensions.
Shifting focus beyond the oil sector, Abdullahi used the occasion to reflect on the nation’s current hardships. He accused President Tinubu and the All Progressives Congress (APC) of economic mismanagement, pointing to worsening insecurity and reforms that have intensified inflation, eroded purchasing power, and inflicted hardship without sufficient cushioning measures.
At 65, our nation is staggering under the failures of President Bola Ahmed Tinubu and the All Progressives Congress. The promise of ‘renewed hope’ has given way to widespread disillusionment, Abdullahi stated.
On security, the ADC spokesperson lamented the government’s inability to contain Boko Haram, ISWAP, banditry, and kidnappings, even within the Federal Capital Territory. He criticized the administration’s lack of a coherent security strategy, leaving citizens vulnerable under what he described as a fractured and under-resourced security apparatus.
Abdullahi also pointed to strikes, protests, decaying infrastructure, and record youth unemployment as evidence of declining public trust in government institutions.
Calling for resistance, he urged civil society, labour unions, the National Assembly, and young Nigerians to reject the proposed amendments and sale of NNPC assets.
Civil society must stand firm. The National Assembly must reject any attempt to amend the Petroleum Industry Act in ways that serve private or political interests. And young Nigerians must organise, speak out, and demand full transparency and accountability, he said.
He concluded by urging Nigerians to use the country’s independence anniversary as a moment of reflection and renewal, rather than despair.
At 65, Nigeria must not stand for power, profit, or politics. Nigeria must stand for the people, Abdullahi declared.