ADC Coalition Criticizes Tinubu Over NNPC Legacy Debt Cancellation, Calls Move Unconstitutional and Harmful to States
The African Democratic Congress (ADC) has strongly condemned President Bola Tinubu’s approval to cancel legacy debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account. The party described the move as unconstitutional, arguing that it undermines subnational governments by erasing longstanding public liabilities without legislative approval.
According to ADC, the cancellation involved about $1.42 billion and N5.57 trillion in legacy NNPC debts, including obligations from production sharing contracts, domestic supply obligations, and royalty receivables. The coalition warned that the executive directive overrode constitutional provisions that require all Federation revenues to be paid into the account for distribution among federal, state, and local governments.
ADC accused the President of repeated constitutional violations and expressed concern over apparent inaction by the National Assembly. The party emphasized that any unilateral cancellation reducing revenues due to states and local governments is unconstitutional, asserting that Nigeria must operate as “a nation of laws, not of men.”
The African Democratic Congress (ADC) has strongly condemned President Bola Tinubu’s approval to cancel legacy debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account. The party described the move as unconstitutional, arguing that it undermines subnational governments by erasing longstanding public liabilities without legislative approval.
According to ADC, the cancellation involved about $1.42 billion and N5.57 trillion in legacy NNPC debts, including obligations from production sharing contracts, domestic supply obligations, and royalty receivables. The coalition warned that the executive directive overrode constitutional provisions that require all Federation revenues to be paid into the account for distribution among federal, state, and local governments.
ADC accused the President of repeated constitutional violations and expressed concern over apparent inaction by the National Assembly. The party emphasized that any unilateral cancellation reducing revenues due to states and local governments is unconstitutional, asserting that Nigeria must operate as “a nation of laws, not of men.”
ADC Coalition Criticizes Tinubu Over NNPC Legacy Debt Cancellation, Calls Move Unconstitutional and Harmful to States
The African Democratic Congress (ADC) has strongly condemned President Bola Tinubu’s approval to cancel legacy debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account. The party described the move as unconstitutional, arguing that it undermines subnational governments by erasing longstanding public liabilities without legislative approval.
According to ADC, the cancellation involved about $1.42 billion and N5.57 trillion in legacy NNPC debts, including obligations from production sharing contracts, domestic supply obligations, and royalty receivables. The coalition warned that the executive directive overrode constitutional provisions that require all Federation revenues to be paid into the account for distribution among federal, state, and local governments.
ADC accused the President of repeated constitutional violations and expressed concern over apparent inaction by the National Assembly. The party emphasized that any unilateral cancellation reducing revenues due to states and local governments is unconstitutional, asserting that Nigeria must operate as “a nation of laws, not of men.”
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