ADC Opposes Sale Of Nigeria’s Oil Assets

The African Democratic Congress (ADC) has  kicked against the planned merchantability of Nigeria’s lipid assets.

The party’s nationalist publicity secretary, Malam Bolaji Abdullahi, who stated this astatine a property conference, said the Petroleum Industry is nether siege.

He described the planned merchantability arsenic a devastating battle launched connected the nationalist lipid assets which indispensable beryllium stopped.

ADC spokesperson recalled that connected 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 associated missive to President Tinubu, rejecting the projected amendments to the Petroleum Industry Act (PIA), and the planned merchantability of NNPC Limited’s equity successful high-performing associated ventures.

Abdullahi said the ADC is afloat aligned with the unions’ presumption connected some the projected amendments and the sell-offs, adding “We besides judge that if allowed to proceed, the planned actions of this medication would not lone undermine Nigeria’s vigor sovereignty, but it would besides magnitude to a brazen transportation of nationalist assets into backstage hands successful a mode ne'er experienced successful the past of our country.”

He added that the enactment has cautiously examined the projected amendments to the PIU, and is convinced that this enactment signifier portion of a deliberate and calculated effort to hollow retired NNPC Limited, dismantle organization checks and balances, and pave the mode for the fire-sale of Nigeria’s astir invaluable nationalist assets to private, politically-connected interests astatine the disbursal of 200 cardinal Nigerians.

He further stated that handing implicit decisive power of these assets to backstage interests, the authorities weakens Nigeria’s quality to stabilise vigor supply, respond to planetary lipid shocks, oregon program agelong word vigor strategies successful the nationalist interest.

“If we merchantability disconnected our lipid assets, we are not conscionable parting with numbers connected a equilibrium expanse – we are surrendering the lifeblood of our system and the backbone of our nationalist sovereignty. It would mean that Nigeria, a state that erstwhile stood arsenic a elephantine of vigor successful Africa, would aftermath up time without power implicit its ain resources.

“It would mean that the revenues which money our schools, hospitals, roads, and pensions volition travel into backstage pockets portion our treasury runs dry. It would mean NNPC Limited, stripped of its astir profitable holdings, volition stagger nether indebtedness and obligations it tin nary longer meet, risking illness and the nonaccomplishment of thousands of jobs. It would mean that our vigor information — our quality to stabilize substance supply, support against planetary shocks, and program for the aboriginal – volition beryllium handed to a fewer backstage entities whose lone loyalty is to profit, not to the Nigerian people. Most dangerously of all, it would acceptable an irreversible precedent, turning our communal wealthiness into backstage property, and leaving aboriginal generations of Nigerians with thing but memories of what was erstwhile theirs.

“Fellow Nigerians, what lies earlier america is not simply a substance of argumentation oregon legislative accommodation – it is simply a conflict for the precise psyche of our nation’s economy. At involvement is the benignant of Nigeria we are building, and much importantly, for whom we are gathering it.”

ADC called connected civilian nine organisations and different stakeholders to basal steadfast and defy this unfolding plunder of nationalist resources.

“The National Assembly, some existent members and those who person served before, indispensable cull immoderate effort to amend the Petroleum Industry Act successful ways that service backstage oregon governmental interests implicit the nationalist good. Labor unions, peculiarly those successful the captious lipid and state sector, indispensable enactment decisively to support our nationalist sovereignty and strategical assets. And to the young radical of Nigeria — those who volition carnivore the semipermanent consequences of today’s decisions — we impulse you to organize, talk out, and request afloat transparency and accountability.

“At 65, Nigeria indispensable not basal for power, profit, oregon politics. Nigeria indispensable basal for the people.

The African Democratic Congress reaffirms its committedness to protecting Nigeria’s commonwealth, resisting corruption successful each its forms, and defending the economical rights of aboriginal generations.

“Let this beryllium our bequest — that erstwhile it mattered most, we stood up, spoke out, and said nary to the selling of Nigeria,” the enactment said.