News
NNPC; Atiku Slams OVH Deal, Alleging Undue Influence By Tinubu’s Family
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.
Entertainment
NIBAD 2026: Abike Dabiri To Take Centre Stage As Bunmi Ebony, DJ X-One Host Baltimore Event
The Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Hon. Dr Abike Dabiri-Erewa ( OON) has been scheduled for honour, among other awardees, at the 2026 and the 6th edition of the annual Nigerian Independence Ball, Awards, and Dinner (NIBAD),billed to hold in Baltimore, Maryland, on the 18th of October .
At the instance of Naija Times USA and Raindrop Group led by Olaniyi Thompson Tabi, activities marking the 6th edition of NIBAD commenced on the 3rd of October with Independence carnival in Maryland.
As part of the expanded 6th edition, the Annual Independence stage play titled ‘Your Excellency Sir!’ …The saga of a nation, written and directed by Olaniyi Thompson Tabi, was showcased at a very colorful event on the 9th of October.
Designed to be an unforgettable celebration of Nigeria’s 66th Independence celebration, the grand finale of the celebration is billed for Sunday, the 18th of October, 4.00pm, at Gabriel Community Centre, 6948, Dogwood Road, Windsor Mill, MD 21244.
The evening will not only commemorate Nigeria’s rich history and vibrant culture but will also spotlight the exceptional contributions of Nigerians at home and abroad in various fields such as business, healthcare, education, community service, and more.
The evening will feature a grand awards ceremony to honor those who have demonstrated leadership, innovation, and dedication in their respective industries. Among them, Dr Dabiri- Erewa
Hon. Dr. Abike Kafayat Oluwatoyin Dabiri-Erewa (OON) is a prominent Nigerian politician, public administrator, and former broadcast journalist who has been able to show leadership since her appointment as the Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM).
To add colour to the event also, is
Dj X-One, reputed as the best Disc Jockey in the DMV area. Bunmi Ebony, a fast rising Juju Artiste in Atlanta will also be on the bandstand to thrill guests at the event to celebrate Nigeria.
****About NIBAD: The Nigerian Independence Ball, Awards, and Dinner (NIBAD) is an annual event that celebrates Nigeria’s Independence while recognizing the achievements of Nigerians in the diaspora. NIBAD aims to highlight the cultural pride, resilience, and accomplishments of Nigerians globally, bringing together community leaders, professionals, and influencers for an evening of celebration, inspiration, and unity.
The Rivers State Police Command under CP Olugbenga A. Adepoju has condemned the purported renovation of the Abuloma Police Outpost by suspected cultists and ordered a full investigation into the incident.
Police Public Relations Officer (PPRO) of the command, ASP Blessing Agabe disclosed this in a Friday statement.
She said the command’s action follows a trending social media report and circulating video alleging that suspected cultists renovated the outpost and visited the facility on Thursday, October 15, to celebrate completion of the renovation.
The command said it “strongly condemns any action or association capable of compromising the integrity, discipline and professional standards of the Nigeria Police Force or conferring legitimacy, recognition or acceptance on suspected cult groups or other unlawful organisations.”
It added, “Police facilities are public institutions established for the protection of citizens and the enforcement of law and must not become platforms through which criminal groups seek public validation or influence.”
The command said CP Adepoju maintains zero tolerance for criminality and any conduct that undermines public confidence in the police.
Consequently, he has queried and relieved the Divisional Police Officer in charge of Abuloma Division and the Divisional Officer overseeing the affected outpost of their duties pending investigation.
The CP has also ordered a full investigation to establish the circumstances surrounding the incident and the veracity of the allegations, including the identities and backgrounds of the individuals or groups who financed or facilitated the renovation; the police officers who authorised or approved the project; whether due procedures were followed; whether any officer breached professional standards or compromised the integrity of the force; and the extent of any involvement by police personnel.
The command said while it welcomes legitimate community support for improving police facilities, consistent with Section 26(1)(d) of the Nigeria Police Act 2020, which provides for gifts and contributions to the Police General Fund, such support must not compromise police independence, professional standards or security.
“No donation or assistance confers immunity from investigation or prosecution,” the command stated, adding that the investigation will establish whether necessary approvals were obtained and appropriate checks conducted on those who financed the renovation.
It reiterated that it would not condone unprofessional conduct or any form of improper association with criminal elements and that appropriate disciplinary and legal action would be taken against anyone found culpable.
The Police Command in Benue State has confirmed the abduction of Rev. Fr. John Otache, Parish Priest of St. Margaret’s Parish, Ajegbe-Awume, in Ohimini Local Government Area of the state.
The Police Public Relations Officer, DSP Aondogu Orchia confirmed the incident on Friday in Makurdi.
Orchia said the command had commenced full investigation into the incident and efforts were ongoing to rescue the priest.
Meanwhile, the Catholic Diocese of Otukpo, in a statement signed by the Diocesan Chancellor, Rev. Fr. Joseph Itodo, said the priest was abducted on October 13.
According to Itodo, Otache was returning home from Otukpo when he encountered the abductors along the Otobi Amejo-Ajegbe Road in Ohimini Local Government Area.
He expressed sadness over the incident, saying the Bishop of Otukpo, Most Rev. Michael Apochi, was deeply pained by the development.
He called on priests, religious members, the laity and other well-meaning individuals to pray for the priest’s safe and speedy release.
He also urged prayers for other persons held by kidnappers across the country, expressing hope for their safe return.
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