Former Vice President, Atiku Abubakar, has expressed grave concerns on the ongoing probe of the NNPCL, stating that President Tinubu’s allies in the NASS will likely distort the investigation.
The presidential candidate for the Peoples Democratic Party (PDP) in the 2023 general elections, Atiku Abubakar, has dismissed the ongoing probe of the Nigerian National Petroleum Company Limited (NNPCL) by the national assembly, saying the exercise will be fraught with inconsistencies.
He made this known in a press statement released by Paul Ibe, his media adviser. Atiku berated the questionable operations of the NNPCL and how the government-owned oil company had put its retail arm under the control of OVH, a company in which Oando, led by Wale Tinubu, owns 49%.
“In October 2022, just five months before the elections, the NNPC Retail controversially announced it had acquired OVH and all its filling stations. NNPCL already had about 550 filling stations across the country but claimed it was enhancing its capacity by acquiring OVH, which had only 94 stations and 100 others leased.”
“The NNPC did not disclose the purchase price of OVH or the terms of the acquisition. A Freedom of Information request by Premium Times was also rejected by the NNPC, which claimed to be a private company despite still being government-owned.” he said.
READ ALSO: INSIGHT: NNPC and the Akara Company Story
He lambasted the unethical appointments of certain individuals by the president asserting that Tinubu is mortgaging the future of the country to his network of cronies. He said: “Following this dubious deal, Mele Kyari was controversially retained as NNPC GMD despite his incompetence. Tinubu then appointed his former boss at Mobil, turned ally, Pius Akinyelure, as NNPC Chairman, while he himself took on the role of Minister of Petroleum.”
“In a move that defies economic logic, OVH, previously owned by NNPC Retail, has now acquired NNPC Retail. This absurd situation means that Wale Tinubu’s Oando now owns 49% of NNPC Retail. Moreover, Nigeria paid Wale Tinubu a significant sum to facilitate the Tinubu family’s acquisition of the national oil company. This represents a clear case of illogical business transactions and abuse of office by President Tinubu, who has prevented NNPC from becoming a public liability company as stipulated by the PIA.”
Atiku acknowledged that the NNPCL and its leadership are under legislative investigation but expressed reservations about the credibility of the process due to the vested interests of the parties conducting the investigation.
“Senator Opeyemi Bamidele, who is heading the National Assembly panel, is a known supporter of Tinubu. He served as a commissioner under Tinubu in Lagos State and publicly calls him his godfather. Given that Tinubu is the Petroleum Minister, he should be held responsible for the sector’s issues. I doubt Bamidele will conduct a thorough investigation that might implicate his patron,” Atiku said.
READ ALSO: NNPC Chief, Mele Kyari decries allegations of economic sabotage
He went further to address the recent revelation on the Lagos-Calabar Coastal Highway project under litigation making references to his earlier take on the matter.
“I had earlier claimed that the Lagos-Calabar Coastal Highway project was fraudulent, but the government denied it. Now, the matter is in court. It is also concerning that Chagoury and Tinubu have a business relationship, and their children are business partners, as revealed by the OCCRP.
“This indicates a conflict of interest. It is no surprise that the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Coastal Highway, which together will cost over $24 billion, were approved without competitive bidding. It seems that whatever Tinubu wants, he gets,” the statement concluded.
