The African Democratic Congress (ADC) has strongly opposed proposed changes to the Petroleum Industry Act (PIA) as well as plans to sell equity shares in the Nigerian National Petroleum Company Limited (NNPCL).
Speaking at a press briefing in Abuja to mark Nigeria’s 65th Independence anniversary, the party’s National Publicity Secretary, Malam Bolaji Abdullahi, warned that such moves could harm the nation’s long-term interests.
He argued that the sale of NNPCL stakes would not constitute reform but rather a betrayal of Nigeria’s people and economy.
Abdullahi recalled that on Sept. 22, the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) had written to President Bola Tinubu to reject the initiative.
The ADC spokesperson said the party stands firmly with the labour unions, stressing that going forward with the plan would weaken Nigeria’s energy independence and amount to handing over vital public assets to private interests.
He further warned that such actions could dismantle regulatory safeguards, leaving the country’s most profitable resources vulnerable to exploitation by politically connected individuals, ultimately at the expense of millions of citizens.
“By ceding control of these assets to private entities, the government risks eroding Nigeria’s ability to stabilise fuel supply, shield itself from global oil shocks, and plan effectively for the future,” Abdullahi said.
He cautioned that losing ownership of the nation’s oil wealth would strip Nigeria of its economic backbone and sovereignty, while diverting vital revenues for schools, hospitals, and infrastructure into private hands.
According to him, an NNPCL without its strongest assets would face unsustainable debts, potential collapse, and massive job losses.
He concluded that such a move would jeopardise energy security, transferring power to a small circle of profit-driven companies with no obligation to the Nigerian people.
Abdullahi therefore appealed to civil society groups, the National Assembly, and labour organisations to collectively oppose the sale.
He also encouraged young Nigerians and oil and gas workers to demand openness and accountability throughout the process.
Reiterating ADC’s stance, he pledged the party’s commitment to safeguarding Nigeria’s resources, confronting corruption, and ensuring economic justice for future generations.
Reflecting on Nigeria’s independence journey, Abdullahi honoured citizens who have kept faith in the nation’s vision despite enduring significant hardship.
He recalled that 65 years ago, Nigeria’s founding leaders reclaimed self-determination and tasked their people with building a united and prosperous nation.
From civil war through democratic transitions and economic challenges, he said, Nigeria’s resilience and creativity have held the country together.
Abdullahi urged President Bola Tinubu’s administration to prioritise easing economic hardship, improving security, and restoring citizens’ trust in governance.