NNPC’s debt waiver: Writing off accountability By Vanguard Editorial Board on January 8, 2026 – Recommended Nigerian Newspaper Report 17
Nigeria’s oil governance has again come under public scrutiny following President Bola Ahmed Tinubu’s approval of the write-off of about $1.42 billion and N5.57 trillion in legacy debts owed by the Nigerian National Petroleum Company, NNPC, Limited to the Federation Account. According to the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, October 2025 Revenue Collection Report, presented at the Federation Account Allocation Committee, FAAC, meeting of November 18, 2025, the Presidency approved the removal of these liabilities from the Federation’s books after a reconciliation exercise conducted by a Stakeholder Alignment Committee.