The National Rebirth Movement (NRM) has vowed to mobilise Nigerians for nationwide protests against what it described as a dangerous plot by the federal government to amend the Petroleum Industry Act (PIA) and sell off critical national assets.
In a statement issued on Monday in Kaduna, Comrade James Jonah Gbudu, president of the movement, accused Finance Minister Wale Edun of spearheading moves that would strip the Nigerian National Petroleum Company Limited (NNPCL) of its backbone and hand over the country’s oil wealth to cronies.
“These amendments are the handiwork of Wale Edun, who appears to think he will be in government forever. Nigerians must rise against this kind of individual mentality and the planned return of the Obasanjo/Atiku era that sold off critical national assets. This time, they want to sell everything to their friends and render the NNPCL naked,” Gbudu said.
The NRM president said the movement would not fold its arms while government policies mortgage the nation’s future. He described the PIA, passed into law in 2021 after two decades of delay, as one of the few reforms that provided a clear framework for the oil and gas sector.
The group said it believes President Bola Tinubu may not be aware of the move to amend the PIA and sell off public assets.
“It is barely four years since the PIA came into effect, and instead of strengthening it, this government wants to dismantle its safeguards. Our national oil company, which should be a source of pride and revenue for all Nigerians, is being targeted for stripping under the guise of reforms. We believe President Bola Tinubu may not be fully aware of the implications of this move, but Nigerians will not be passive while their future is auctioned,” he said.
Gbudu recalled how past privatisations failed to deliver value to citizens, saying they mainly enriched a few politically connected businessmen. He warned that repeating that pattern in the oil sector would deepen poverty and unemployment.
“The Obasanjo/Atiku era taught us bitter lessons. NEPA was sold, yet Nigerians are still in darkness. Refineries were left comatose while billions are spent on fuel imports. We will not allow another cycle of deception,” he declared.
Instead of amending the PIA to pave the way for asset sales, Gbudu urged the government to focus on transparency and accountability within the NNPCL.
“What Nigerians want is openness. We want to know the real figures, the contracts, the daily production, the inflows and outflows. That is what will build trust and efficiency. Selling off assets to friends of those in government will only deepen corruption and rob the country of future revenues,” he added.
The NRM leader said the group has begun consultations with civil society organisations, labour unions, student groups and community leaders to resist the proposed changes.
“We are ready to lead Nigerians to the streets if necessary. This is not just about oil, it is about the survival of our commonwealth. If they insist on amending the PIA to sell off our assets, we will mobilise nationwide protests,” Gbudu warned.
