ADC , Oil Unions Slam Sale of NNPCL Over Threat to National Wealth

ADC, Oil Unions Slam Sale of NNPCL Over Threat to National Wealth

 

 

 

The African Democratic Congress (ADC) has joined the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in rejecting plans to sell the Nigerian National Petroleum Company Limited (NNPCL).

 

In a joint letter to President Bola Tinubu, the unions opposed amendments to the Petroleum Industry Act (PIA) that would pave the way for the sale of NNPCL’s stakes in profitable joint ventures.

 

At a media briefing in Abuja on Wednesday, ADC spokesman Bolaji Abdullahi described the plan as a threat to Nigeria’s energy sovereignty and national wealth.

 

“Careful examination shows this is a deliberate attempt to weaken NNPCL, dismantle institutional checks, and transfer public assets to private, politically connected interests,” Abdullahi said.

 

He warned that the sale would endanger energy security, compromise government control over strategic resources, and divert revenues that fund schools, hospitals, roads, and pensions into private hands.

 

“NNPCL, stripped of its profitable holdings, may collapse under debt, putting thousands of jobs at risk. This is not just policy—it is a fight for the soul of our nation’s economy,” he added.

 

The ADC urged civil society, labour unions, and young Nigerians to resist the sale, demand transparency, and safeguard the country’s strategic assets.

 

“Let our legacy be that when it mattered most, we stood firm and said no to the selling of Nigeria,” the party concluded.