Former Vice President of Nigeria, Atiku Abubakar, has called on the Federal Government to clarify why Oando Plc, owned by President Tinubu’s nephew, received swift approval to acquire the onshore assets of AGIP and ENI, while other transactions like the Shell/Renaissance and Mobil/Seplat deals have been delayed.
Atiku also criticized the Tinubu administration for implementing what he describes as a “sham” subsidy regime, which was highlighted in the financial statement recently released by the Nigerian National Petroleum Company Limited (NNPCL).
Phrank Shaibu, Atiku’s Special Assistant on Public Communication, stated that President Tinubu’s recent foreign trips, where he claimed to have removed petrol subsidies, are inconsistent with the reality on the ground.
He accused Tinubu of not being forthright about the ongoing subsidy payments, citing the N7.8 trillion owed to NNPCL by the Nigerian government and the IMF’s estimation that subsidy payments could constitute 3% of GDP, amounting to approximately N11.8 trillion.
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Atiku alleged that Oando has been given preferential treatment in the oil and gas sector, to the detriment of other investors. He questioned the role of the House of Representatives, which he claims has failed to take action against the NNPCL, allowing it to “mortgage the country’s national oil assets to vested interests.”
He pointed out that while the Nigerian Upstream Production Regulatory Commission (NUPRC) quickly approved Oando’s acquisition of ENI/AGIP’s onshore assets, other deals, such as SEPLAT’s attempt to buy Mobil’s onshore assets and the Renaissance/Shell deal, have been stalled.
Atiku accused the NNPC of ignoring a House of Representatives directive to suspend the acquisition of OVH assets pending an investigation. He also alleged that the NNPC leadership had been influenced by personal interests, pointing out that key figures within NNPC were appointed from OVH Energy, long before the merger between the two entities.
Additionally, Atiku criticized the Tinubu administration for its handling of human rights issues, accusing it of allowing abuses by law enforcement agencies without accountability. He highlighted cases of enforced disappearances and the intimidation of journalists, arguing that these actions could lead to international sanctions against Nigeria, particularly concerning the sale of weapons.
Atiku urged President Tinubu to address these human rights concerns seriously to avoid further damage to Nigeria’s international reputation and its ability to combat insecurity.
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