ADC Slams Tinubu Over NNPC Debt Write Off

The African Democratic Congress has accused President Bola Tinubu of acting beyond his powers by approving the cancellation of debts owed by the Nigerian National Petroleum Company Limited to the federation account.

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The party reacted on Saturday after reports that the president cleared about 1.42 billion dollars and over 5.5 trillion naira in outstanding NNPC obligations following a reconciliation exercise with revenue authorities.

LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT

ADC said the decision affects federal, state and local governments, noting that funds due to the federation account do not belong to the president alone to forgive or cancel.
The party’s spokesperson, Bolaji Abdullahi, argued that any decision touching shared national revenue must involve state governments and receive approval from the National Assembly.

LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT

ADC warned that bypassing these steps undermines constitutional processes and weakens transparency in public finance management.
It added that such action, if left unchecked, could amount to a serious breach of the constitution with grave political consequences.