ADC: Tinubu lacks power to write off NNPC debt — it’s impeachable offence

The African Democratic Congress (ADC) has faulted President Bola Tinubu for unilaterally writing off the debt of the Nigerian National Petroleum Company (NNPC) Limited.

Tinubu had approved the cancellation of about $1.42 billion and N5.57 trillion outstanding obligations owed by the NNPCL to the federation account allocation committee (FAAC) following a reconciliation of records between both parties.

In a statement issued on Saturday, Bolaji Abdullahi, ADC spokesperson, said Tinubu lacks the unilateral power to cancel the NNPCL debt without liasing with states and securing approval from the national assembly.