By MBACHU GODWIN Abuja
The African Democratic Congress , ADC has rejected the proposed amendment of the Petroleum Industry Act and planned sale of Nigerian National Petroleum Corporation Limited , NNPCL by the Tinubu led federal government
The party argued that the proposed sale will undermine Nigeria’s energy sovereignty as well as handing over the oil industry into private individuals, which according to it is an assault and should be stopped
Speaking to Journalists in Abuja yesterday, National Publicity Secretary, Malam Bolaji Abdullahi called on the Civil Society Organisations , the Labour unions and members of the National Assembly to rise to the occasion and resists the temptation of sale of the County’s oil national assets.
The party alleged that since the return to democracy in 1999, no administration has inflicted more hardship on ordinary Nigerians, or done more to erode the foundations of national stability, than the present administration one.
“Still, amidst bleak backdrop, another quiet but devastating assault is being launched on our national oil assets ,an assault that must be stopped. That is why we have called this press conference today.
The Petroleum Industry Under Siege On September 22, the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) sent a joint letter to President Tinubu, unequivocally rejecting the proposed amendments to the Petroleum Industry Act (PIA), and yhe planned sale of NNPC Limited’s equity in high-performing joint ventures.
“The African Democratic Congress (ADC) fully aligns herself with the positionbof the unions on both the proposed amendments and the sell-offs. We also believe that if allowed to proceed, the planned actions of this administration would not only undermine Nigeria’s energy sovereignty, but it would also amount to a brazen transfer of public assets into private hands in a manner never
experienced in the history of our country.
“We have carefully examined the proposed amendments to the PIA, and we arebconvinced that this action form part of a deliberate and calculated effort to hollow NNPC Limited, dismantle institutional checks and balances, and lave the way for the fire-sale of Nigeria’s most valuable national assets to private, politically-connected interests at the expense of 200 million Nigerian. They represent not reform, but regression and they must be rejected.
“There is also the grave issue of energy security. By handing over decisive control of these assets to private interests, the government weakens Nigeria’s ability to stabilize energy supply, respond to global oil shocks, or plan long term energy strategies in the national interest. 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 ofbour national sovereignty. It would mean that Nigeria, a country that once stood as a giant of energy in Africa, would wake up tomorrow without control over its own resources.
” It would mean that the revenues which fund our schools, hospitals, roads, and pensions will flow into private pockets while our treasury runs dry. It would mean NNPC Limited, stripped of its most profitable
holdings, will stagger under debt and obligations it can no longer meet, risking collapse and the loss of thousands of jobs. It would mean that our energy
security, our ability to stabilize fuel supply, protect against global shocks, and plan for the future – will be handed to a few private entities whose only
loyalty is to profit, not to the Nigerian people. Most dangerously of all, it would set an irreversible precedent, turning our common wealth into private
property, and leaving future generations of Nigerians with nothing but memories of what was once theirs.
“Fellow Nigerians, what lies before us is not merely a matter of policy or legislative adjustment, it is a battle for the very soul of our nation’s economy. At stake is the kind of Nigeria we are building, and more mportantly, for whom we are building it.
We therefore call on all segments of our society to rise to this critical occasion. Civil society organizations must stand firm and resist this unfolding plunder of our national resources. The National Assembly, both current members and those who have served before, must reject any attempt to amend the Petroleum industry Act in ways that serve private or political interests over the public good. Labor unions, particularly those in the vital oil and gas sector, must act decisively to protect our national sovereignty and strategic assets. And to the young people of Nigeria, those who will bear the long-term consequences of today’s decisions ,we urge you to organize, speak out, and demand full transparency and accountability.
“At 65, Nigeria must not stand for power, profit, or politics. Nigeria must stand for the people.
The African Democratic Congress reaffirms its commitment to protecting Nigeria’s commonwealth, resisting corruption in all its forms, and defending the economic rights of future generations. Let this be our legacy, that when it mattered most, we stood up, spoke out, and said no to the selling of Nigeria”
