The African Democratic Congress (ADC) has accused the Independent National Electoral Commission (INEC) and the Nigeria Police Force of compromising their neutrality ahead of the 2027 general elections.
In a statement issued by its National Publicity Secretary, Bolaji Abdullahi, the party alleged that recent developments suggested a growing alignment between key state institutions and the ruling All Progressives Congress (APC).
The ADC cited reports that a faction of the National Union of Road Transport Workers (NURTW) led by Musiliu Akinsanya, popularly known as MC Oluomo, had been engaged by INEC to provide election logistics.
It argued that allowing individuals perceived to have political affiliations with one of the contestants to transport election personnel and sensitive materials could undermine public confidence in the credibility of future elections.
The party also expressed concern over the attendance of the Lagos State Commissioner of Police at the launch of the pro-Tinubu City Boy Movement.
According to the ADC, such actions
blurred the distinction between state institutions and partisan politics.
The party further said President Bola Tinubu’s recent remark that “all is fair in war” had heightened public suspicion surrounding the reported logistics arrangement.
ADC called on INEC to publicly clarify the reported engagement with the NURTW faction and insisted that the electoral process must remain free from political patronage.
It also urged the Inspector-General of Police to explain whether the Lagos police commissioner’s attendance at the political event was officially authorised and whether it complied with the political neutrality expected of senior police officers.
The party said it would formally write the INEC Chairman seeking clarification over the matter.
It further urged the Inspector-General to either discipline the Lagos police commissioner if his attendance was unauthorised or extend similar privileges to officers invited to events organised by other political parties if it received official approval.
To underscore its demand for fairness, the ADC invited the Inspector-General of Police and the Commissioner of Police for the Federal Capital Territory to attend its forthcoming political event in Abuja.
Seplat Sells 10% Stake in NNPCL-SEPNU Joint Venture for $281.6m
Seplat Energy Plc has agreed to sell a 10 per cent working interest in the NNPC Limited–Seplat Energy Producing Nigeria Unlimited (SEPNU) Joint Venture for approximately $281.6 million as part of efforts to reduce debt, strengthen its balance sheet and increase shareholder returns.
The company announced that its subsidiaries, Seplat Energy Offshore Limited (SEOL) and SEPNU, had signed a legally binding Heads of Agreement with the Nigerian National Petroleum Company Limited (NNPC Limited).
Following completion of the transaction, NNPC Limited’s stake in the joint venture will increase from 60 per cent to 70 per cent, while SEPNU’s interest will reduce from 40 per cent to 30 per cent.
Despite the reduced stake, SEPNU will remain operator of the joint venture, while Seplat Energy will retain full ownership of SEPNU.
The transaction is subject to regulatory approvals and other customary conditions and is expected to be completed in the second half of 2026, with an effective date of April 1, 2026.
Seplat said half of the proceeds would be used to reduce debt, while the remaining half would be returned to shareholders.
The company plans to pay a special cash dividend of approximately $140 million, equivalent to 23.3 US cents per share, in addition to its regular dividend after the transaction is completed.
It also intends to reduce gross debt by up to $300 million, noting that $200 million under its Advanced Payment Facility had already been repaid in the second quarter of 2026, with the balance to be cleared after the deal closes.
Seplat said the transaction would not affect the joint venture’s production targets for 2026 due to strong operational performance.
However, its net contribution to the group’s production guidance will decline from about 80,000 barrels of oil equivalent per day to 65,000 barrels per day, assuming the April 1 effective date.
The company also revised its 2030 net production target from 200,000 barrels of oil equivalent per day to 170,000 barrels per day while reaffirming its commitment to distribute between 40 and 50 per cent of free cash flow to shareholders over the 2026–2030 period.
Chief Executive Officer Roger Brown described the NNPCL-SEPNU Joint Venture as one of Nigeria’s most strategic upstream assets.
He said the partnership with NNPC Limited remained strong and that increased investment since Seplat became operator had significantly improved the joint venture’s performance, positioning it for sustained production growth.
Brown added that the company’s strong financial position would enable it to reward shareholders while further reducing financial leverage and creating greater long-term value.
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