Governors Demand Proof of Tinubu’s NNPC Trillion Debt Write-Off

Governors have called for documentary evidence of President Bola Tinubu’s approval of the recent debt write-off for the Nigerian National Petroleum Company (NNPC), citing concerns over transparency and the impact on state revenues.

The demand was made during a Federation Account Allocation Committee (FAAC) post-meeting in January 2026. The governors want formal proof that the President authorized the cancellation of approximately $1.42 billion and ₦5.57 trillion in legacy debts owed by NNPC to the federation account. The request follows reports by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which cited “presidential approval” in FAAC documents. Governors, however, insist on seeing signed approval documents to verify the figures and understand how future remittances will be handled. President Tinubu approved the write-off in December 2025 as part of a reconciliation process aimed at “cleaning up” NNPC’s books and resolving long-standing accounting disputes. Authorities have described the move as a step toward greater transparency and sector reform, but opposition figures and analysts have criticized it as potentially reckless, given the scale of the debts forgiven. The governors’ push underscores the need for accountability in managing federation revenues, particularly since the funds written off could have been shared across states for essential sectors such as education, health, and security. NUPRC has requested additional time to provide the requested documentation, citing administrative changes and ongoing verification. FAAC subcommittees are also conducting checks on projects financed by NNPC revenues, signaling continued oversight of the company’s finances.