ADC Opposes Sale of National Oil Assets - Warns of Economic Instability and Job Losses

The African Democratic Congress (ADC) raised concerns over the Federal Government's plan to alter the Petroleum Industry Act (PIA) and potentially sell off national oil assets, including the Nigerian National Petroleum Company Limited (NNPC Ltd). The ADC warned that such initiatives could weaken the nation's financial backbone, erode independence, and jeopardize economic stability.

The party's stance aligns with oil unions' opposition to the proposed disposal, citing risks of reduced government income, increased debt, and job losses. The ADC's strong opposition underscores the broader debate surrounding the management and ownership of Nigeria's oil resources.