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NNPC; Atiku Slams OVH Deal, Alleging Undue Influence By Tinubu’s Family

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Despite selling its downstream operations as far back as 2015, former Vice President, Atiku Abubakar on Wednesday accused President Bola Tinubu of mortgaging the oil industry to his family and associates, citing the alleged control of OVH, an oil industry operator, by Oando Plc, owned by Wale Tinubu.

Atiku said he believed that even after Tinubu leaves office, it would be nearly impossible to break the shackles, comparing Tinubu’s alleged integration of his business interests into Lagos’ public enterprises to his current attempts at the federal level.

 

In a statement by his media aide, Paul Ibe, Atiku argued that , “Just as Alpha Beta, Primero, and others act as Tinubu’s proxies in Lagos, managing critical sectors and generating revenue for him and his family, he has begun to replicate this at the federal level.”

 

He expressed astonishment at the operations of the NNPC and how the government-owned oil company has allegedly put its retail arm under the control of OVH, a company in which he said Oando, led by Wale Tinubu, owns 49 per cent.

Atiku regretted that his intention to privatise the NNPC and increase its transparency has been overshadowed by what he described as the criminal hijack of the NNPC by corporate cabals around the current president.

 

“In October 2022, just five months before the elections, the NNPC Retail controversially announced it had acquired OVH and all its filling stations. NNPC 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 (FOI) 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 Group Chief Executive Officer 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 per cent 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 Petroleum Industry Act (PIA),” he alleged.

 

Atiku acknowledged that the NNPC and its leadership were under legislative investigation but expressed scepticism about the process’ credibility due to the vested interests of those 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.

 

On the Lagos-Calabar coastal road, Atike said he had earlier claimed that the Lagos-Calabar Coastal Highway project was fraudulent, but the government denied it.

 

He said that mow that the matter is in court, it was concerning that Chagoury and Tinubu have a business relationship, and their children are business partners, as revealed by 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,” Atiku said.

 

But when THISDAY contacted the Group Chief Executive Officer of Oando, Mr Wale Tinubu on the allegation by the former vice president, he vehemently  refuted the allegation, insisting that the company has no stake in OVH.

 

He stressed that as far back as 2015, Oando sold its stake in the downstream to OVH, wondering how it is being dragged into the matter in 2024.

 

“We are not the ones who sold the company to NNPC. We sold that company, as far back as 2015. He should stop bullying us. They have been telling lies in public.

“He should not drag us into their politics. Oando bought the company in 2000 or 2002 from him when he was chairman of privatisation and we sold the company, during Muhammadu Buhari’s administration.

 

“We don’t own anything there. It’s deliberate falsehood. As a publicly quoted company, we issued a press statement when we sold that company in 2015,” he said on Wednesday night. “We sold our  downstream operations in 2015,” Wale Tinubu maintained.

 

THISDAY tracked an online link where on June 30, 2015  a press release said that Oando Plc had reached an agreement to sell an equity stake in its downstream businesses to a joint venture consisting of Helios Investment partners and Vitol.

 

According to the statement, the integrated oil and gas company announced that a definitive agreement had been executed with the firms. “Importantly, the divestment enables Oando Plc to focus on its upstream and midstream businesses,” the statement added at the time.

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JUST IN: FG Inaugurates Committee To Probe Niger Miners’ Deaths

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The Federal Government has inaugurated a 10-member independent committee to investigate the deaths of 37 people detained by the Nigeria Security and Civil Defence Corps in Niger State over suspected illegal mining.

 

The Minister of Interior, Olubunmi Tunji-Ojo, inaugurated the committee on Tuesday in Abuja, following a directive by President Bola Tinubu for a comprehensive investigation into the incident.

The committee is chaired by retired Deputy Director-General of the Department of State Services, Jonathan Kure, while a former Director-General of the Nigerian Law School, Prof Isa Hayatu Chiroma, SAN, will serve as secretary.

Other members are retired AIG Hosea Hassan Karma; Prof Olayinka Buhari, a professor of Histopathology and former Chief Medical Director of the University of Ilorin Teaching Hospital; a representative of the Minna Emirate Council; and a representative of the Niger State Government.

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US Refuses Visas For Iran UN Delegation Members

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The United States has refused to issue visas for members of Iranian President Masoud Pezeshkian’s delegation, including his communications team, for this week’s trip to the UN General Assembly, Iranian state media reported Monday.

 

Pezeshkian will be the highest-ranking Iranian official to enter the United States since the Middle East war began with US-Israeli strikes on Iran in February.

“In an unprecedented hostile move by the US government, (US President Donald) Trump has denied US visas to certain members of the president’s high-level delegation, including members of his communications team,” state news agency IRNA reported.

The Mehr news agency also carried the story, citing a spokesperson for the Iranian presidency, and added that Pezeshkian will address the UN General Assembly on Wednesday.

The US has authorised the Iranian delegation to travel for the UN General Assembly but will, like last year, put restrictions in place.

Iran’s delegation will not, for instance, be allowed to purchase luxury goods or other items, the State Department said on Thursday.

Iranian Foreign Minister Abbas Araghchi, part of the delegation to the UN, left Iran on Sunday evening for a stopover in Qatar.

Iran says it has conveyed to the US, via Qatar as mediator, conditions for reopening the strategic Strait of Hormuz oil and gas shipping route, which it has choked off since the war began.

The United States, in turn, is imposing a counterblockade of Iranian ports.

 

 

 

 

 

 

 

 

 

 

 

 

 

AFP

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Workers Give Sept’ 30 Deadline, Demand N500 Pump Price,Wage Award In Letter To Tinubu

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Civil servants under the Joint National Public Service Negotiating Council, JNPSNC, Trade Union Side, have written to President Bola Ahmed Tinubu, demanding an urgent intervention to address the worsening economic hardship facing workers and their dependants.

 

The workers called on the Federal Government to stabilise the price of Premium Motor Spirit, PMS, at N500 per litre, approve an immediate Wage Award and upwardly review salaries and allowances across the public service.

They also demanded the immediate constitution of a committee to negotiate a new National Minimum Wage ahead of January 2027.

In a letter addressed to the President at the State House, Abuja, the workers said the recent increase in fuel prices to N1,430 per litre and above in some locations had further worsened the cost-of-living crisis.

They gave the Federal Government until Wednesday, September 30, 2026, to take action on their demands, warning that the prevailing hardship was creating palpable tension among workers and Nigerians.

The JNPSNC said the removal of fuel subsidy three years ago had triggered an astronomical increase in fuel prices and produced multiplier effects on the prices of essential commodities across the economy.

The council said the situation had made life increasingly unbearable for workers, adding that the provision of food palliatives was not a sustainable solution to the economic crisis.

It said: “It has dawned on Nigerian workers that the provision of palliatives such as bags of rice, Indomie, vegetable oil, garri, among other edible foods, is as good as weaponising Nigerians with poverty because it is a Pyrrhic intervention which is unsustainable, inaccessible to the majority of Nigeria’s population and also limited to political cronies.”

The workers argued that a more sustainable intervention would be to reduce the cost of fuel to N500 per litre, saying the measure would have a multiplier effect across the economy.

“Consequent upon the above, it is preferable that the Federal Government should provide an intervention that will trickle down to all Nigerians by making fuel available at an affordable amount as low as N500 (five hundred Naira), the amount at which fuel was being sold when the subsidy was first removed in the year 2023,” they said.

The council identified the restoration of workers’ purchasing power, improved productivity and service delivery, promotion of integrity and accountability, and the reinforcement of trust and industrial peace as major reasons for its demand for improved remuneration.

On fuel prices, the workers said the government should “look inward and stabilize the prices of fuel to an affordable minimum,” arguing that fuel remained an essential commodity with significant implications for the Nigerian economy.

“As a matter of reality, the current hardship being faced by the hapless Nigerian workers is caused by the astronomical increase in the price of Premium Motor Spirit (PMS) to as much as N1,430.00, or more per one litre (this is a killing amount),” the council stated.

The JNPSNC further called for an intervention fund for stakeholders in the oil sector to stabilise fuel prices and eventually bring the pump price down to N500 per litre.

The council said the government could adopt another description for the intervention if the term “fuel subsidy” was considered unacceptable.

“The fuel intervention fund will give the opportunity to every Nigerian to benefit from the intervention fund because it will have multiplier effect in the life of every Nigerian and will naturally trickle down to the downtrodden and all the remotest parts of the country,” it said.

The council also endorsed a position attributed to Nigeria Labour Congress (NLC) President, Joe Ajaero, on measures to address the fuel crisis.

Ajaero was quoted as saying: “Nigeria as an oil-producing country we have sufficient local refining capacity even as this substantially resides with the private sector.”

He also said: “As a nation, and as a people endowed with enormous fossil resources, we are deserving of a certain level of protection or buffer against the gales from the Gulf, and indeed, other gales.”

According to the NLC position cited by the council, “As part of the process of creating this buffer government should sell sufficient crude in Naira to our local refineries; expand our national storage capacity in pursuance of meeting energy emergencies and security. These measures will create jobs, economic value as well as deal with mutating security challenges.”

The statement further said: “There is nothing wrong with government subsidizing the needs of citizens, especially in emergency situations like this. At the moment, there is no oil-producing country we know of that has not intervened or come up with sustainable palliatives in one way or the other in these perilous times.”

The NLC position also stated: “Government is making extra money in the international spot market (of between USD35 and 40 per barrel above the budgeted figure). This translates to trillions of Naira a month.”

It added: “On a long term basis, we are equally concerned that local refineries are importing crude. This is unreasonable and unacceptable and defeats the logic and purpose of local capacity.”

The JNPSNC said it “wholeheartedly subscribe[s] to the submission of NLC leadership” and urged the government to consider the proposals for urgent implementation.

On wages, the council demanded the immediate introduction of a Wage Award covering Federal, State and Local Government workers.

“Wage Award as an urgent intervention and upward review of salaries and allowances of all serving Public Servants in the Nigeria Public Service should be provided with immediate effect to cut across all Federal, State and Local Government workers,” it said.

According to the council, the Wage Award would serve as a precursor to the substantive New National Minimum Wage expected to take effect in January 2027.

The workers also demanded the immediate setting up of a committee to negotiate the new National Minimum Wage, saying early commencement of the process would prevent delays in implementation.

“There is urgent need to immediately set up committee for the negotiation of New National Minimum Wage to accelerate the commencement of the New National Minimum Wage before 2027 so that it can take effect from January, 2027,” the council stated.

The JNPSNC proposed that the minimum salary payable to an officer on Grade Level 01, Step 1, should be N500,000 per month under the 2027 salary template.

The council also called for harmonised wages across Ministries, Departments and Agencies (MDAs), while urging that the review be encouraged at the State and Local Government levels.

It further demanded periodic salary and allowance adjustments linked to inflation, as well as welfare measures including subsidised transportation and affordable housing for civil servants.

The council said public servants remained “the backbone of governance and national development” and the “live wire of any administration,” noting that workers were responsible for policy formulation, implementation of government programmes and the provision of essential public services.

It said rising inflation, fuel prices, transportation costs and the increasing cost of food, housing, healthcare and education had eroded the real value of workers’ salaries.

“Many workers are now struggling to meet basic financial obligations, which has inevitably affected the morale, motivation, and overall productivity within the Public Service,” it stated.

The JNPSNC urged the President to direct the National Salaries, Incomes and Wages Commission (NSIWC) to commence discussions with the Nigeria Labour Congress, NLC, Trade Union Congress of Nigeria TUC, JNPSNC and other relevant stakeholders on the Wage Award and upward review of salaries and allowances.

The council said: “Your Excellency, we trust that this request will receive the prompt attention and action it deserves in the interest of Nigerian workers and their dependants, the Public Service as an age-long institution and the nation at large on or before Wednesday 30th September, 2026 to douse the palpable tension that may erupt.”

It also expressed the expectation that the President’s Independence Day broadcast would address the concerns raised by workers.

“It is the high expectations of Nigerian workers and all patriotic Nigerians that your Independence Day broadcast will attend to our sincere suggestions in order to bring succour and life back to all dying Nigerians,” the council said.

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