Former Vice President Atiku Abubakar has raised an alarm over an alleged report that President Bola Ahmed Tinubu wants to sell up to 30 percent of Nigeria’s Joint Venture assets under the Nigerian National Petroleum Company (NNPC).
The Atiku Media Office made this known in a statement at the weekend.
Atiku warned that such assets are critical to the country’s revenue base and should not be disposed of without full transparency and accountability.
He also raised questions about the reported relocation of NNPC Upstream Investment Management Services to Lagos, with an alleged annual rental cost exceeding N9 billion.
“We are alarmed by credible reports suggesting a planned sale of up to 30 percent of Nigeria’s Joint Venture assets under NNPC Limited. These assets are not mere commercial instruments; they are strategic national holdings—the backbone of Nigeria’s revenue architecture. Any attempt to dispose of them without full transparency, competitive valuation, and public accountability would amount to the quiet auctioning of Nigeria’s future.
“We call on PENGASSAN, NUPENG, and all stakeholders in the oil and gas industry to remain vigilant. The Nigerian people must not be shortchanged through opaque transactions carried out under the cover of reform.
“Equally concerning are reports surrounding the relocation of NNPC Upstream Investment Management Services back to Lagos at an alleged annual rental cost exceeding N9 billion. At a time when Nigeria is grappling with an unprecedented debt servicing burden—rising from nearly N7 trillion in 2023 to about N16 trillion—such expenditure raises serious questions about fiscal discipline and priority setting.
“Even more disturbing are allegations, yet to be credibly refuted, that the property in question may be linked to interests associated with the President’s family. In public service, perception matters. Silence in the face of such weighty allegations only deepens suspicion and erodes public trust. This is how institutions are weakened—not always by overt illegality, but by a steady erosion of transparency, accountability, and ethical governance.
