Explain Why Your Nephew Got Accelerated Approval To Buy Oil Assets – Atiku Challenges President Tinubu

Former Vice President of Nigeria, Atiku Abubakar, has accused President Bola Tinubu of giving undue advantage to his nephew in the purchase of some oil assets in the country.

Atiku, in a statement on Sunday by his Special Assistant on Public Communication, Phrank Shaibu, asked the federal government to explain why Oando Plc, owned by the President’s nephew, got accelerated approval to buy the onshore assets of AGIP and ENI while other transactions such as the Shell/Renaissance deal and the Mobil/Seplat continue to suffer delays.

The former Vice President alleged that Oando was being given undue and preferential treatment in the oil and gas sector to the detriment of more competent investors.

The 2023 presidential candidate of the Peoples Democratic Party (PDP) also knocked the House of Representatives for failing to take proper action on the Nigeria National Petroleum Company Limited (NNPCL), which he accused of going ahead to “mortgage the country’s national oil assets to vested interests”.

According to him, democracy in Nigeria under Tinubu has become a government for the President and his family members.

Atiku said, “Within just eight months, the Nigerian Upstream Production Regulatory Commission (NUPRC) approved a deal which saw the divestment of ENI/AGIP onshore assets to Oando. Within that same period, Nigeria controversially withdrew all litigation against Shell/ENI in the OPL 245 scandal in what has been described as a quid pro quo.

“However, the attempt by SEPLAT to buy Mobil’s onshore assets has continued to stall for the last three years even as the consent letter remains on Tinubu’s table. The deal between Renaissance and Shell continues to stall. In fact, the only deal that has fully scaled through so far is the one involving Oando. We now know why it got accelerated approval.

“Ideally, democracy ought to be government of the people, for the people, and by the people. But democracy in Nigeria has become the government of Tinubu, by Tinubu, and for Tinubu and his family members.”

Atiku added, “In July 2023, the House of Representatives, following the adoption of a motion moved by Miriam Onuoha directed NNPC Ltd to suspend the acquisition of OVH assets pending an investigation by its committee.

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“The House ad-hoc committee requested the NNPC Ltd to furnish it with information about registration documents/history from CAC for OVH, Nueoil, and NNPC Retail Limited (NRL), Board Resolution of NNPC Ltd on purchase of OVH, Audited Financial Statement and Management Accounts from 2015 to date of OVH, Nueoil, NRL and NNPC Ltd and the payroll from 2015 to date for NRL and OVH; Board Resolution of NRL/CHQ for movement of head office to Lagos and evidence of Tax Payments for NRL and OVH from 2015 to date.

“The NNPC ignored all these and went ahead to transfer its ownership and properties in its retail arm to OVH, thereby mortgaging the future of Nigerians.

“Despite the rot in the oil sector, the head of the NNPC, the head of the NUPRC, and the head of the NMDPRA continue to keep their jobs. This is clear evidence that they are fulfilling the mandate given to them by Tinubu.”

Furthermore, Atiku said the NNPC lied in its vacuous response to their statement last week, as it is on record that the Kyari-led management appointed Huub Stoksman, a former Chief Executive Officer of OVH Energy, as Managing Director of NNPC Retail, and Mumuni Dangazau, the former Chief Operating Officer of OVH Energy, as his Special Adviser Downstream, long before the consummation of the incestuous marriage of the entities.