The Nigerian National Petroleum Company Limited has clarified that neither President Bola Tinubu nor Mr. Wale Tinubu of Oando Plc have any involvement in the acquisition of OVH by NNPC.
The statement from NNPC was in response to claims made by former Vice President Atiku Abubakar’s Media Adviser, Paul Ibe.
Atiku expressed concerns about the alleged influence of corporate cabals around President Tinubu on NNPC and mentioned the retention of Mr. Mele Kyari as part of a supposed compensation related to the acquisition of NNPC Retail Ltd by OVH.
NNPC spokesperson, Olufemi Soneye, emphasized that investment decisions by NNPC are based on commercial viability and national interest, and the acquisition of OVH in 2022 was a strategic move.
Soneye clarified the timeline of Oando’s divestment from OVH and the subsequent merger of NNPC Retail Ltd into OVH, stating that neither Wale Tinubu nor the President had any stake in the OVH acquisition.
He highlighted NNPC’s commitment to business growth and value creation, emphasizing the company’s focus on national interest and professionalism in its operations.
NNPC’s financial success was also mentioned, with a reported profit after tax of N3.3tn in the 2023 Audited Financial Statement.