Atiku accuses Tinubu of mortgaging future of Nigerians, alleges sale of 49% OVH, NNPCL's retail arm, to OANDO owned by president's nephew

Former Vice President Atiku Abubakar has accused President Bola Tinubu of allegedly mortgaging the future of Nigerians.

In a statement issued by his media aide, Paul Ibe, Abubakar, the PDP candidate in the February 25, 2023 presidential election, described as “astonishing” the allegation that government-owned Nigeria National Petroleum Company Limited ( NNPCL) has 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,” Atiku remonstrated.

“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.

“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.”

Although the NNPC and its management are currently under probe, the former vice president said he has no confidence in the credibility of the process, owing to the alleged vested interests of those superintending the exercise.

This is because, according to the PDP presidential candidate, “Senator Opeyemi Bamidele, who is heading the National Assembly panel, is a known supporter of Tinubu.”

“He (Bamidele) 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, adding:

“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. “