The African Democratic Congress (ADC) strongly denounces President Bola Tinubu’s unilateral cancellation of NNPC Ltd’s outstanding debts ($1.42 billion; ₦5.57 trillion) to Nigeria’s Federation Account, depriving state and local governments of critical revenue.

 The ADC argues this executive decision, made without legislative consent, violates Section 162 of the Constitution. NNPC’s “reconciliation” rationale is rejected as legally invalid. “This erodes transparency and undermines fiscal federalism,” said ADC’s Bolaji Abdullahi. 

The National Assembly is faulted for silence. The debts covered production-sharing contracts, royalties, and domestic supply obligations (pre-Dec 2024). The ADC urges accountability, warning of a governance crisis if unchecked.