ADC Slams Tinubu Over Unconstitutional NNPC Debt Cancellation
The African Democrat Congress (ADC) has criticized President Bola Ahmed Tinubu for unconstitutionally approving the cancellation of legacy debts owed by the Nigerian National Petroleum Corporation (NNPC) Ltd. The ADC argues that this action, amounting to $1.42 billion and N5.57 trillion, breaches the constitution as it reduces funds meant for state and local governments without legislative approval.
The debts were related to crude supply contracts and royalties. The ADC emphasizes that the President lacks the authority to unilaterally cancel revenue belonging to tier governments without proper legislative backing.
Plus234Feed summary based on reporting from Politics Nigeria. Read the original report below.
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