Atiku Urges Tinubu to Explain Oando’s Accelerated AGIP/ENI Deal Approval

Atiku Demands Government’s Explanation for Oando’s Preferential Treatment in AGIP/ENI Deal

Former Vice President of Nigeria, Atiku Abubakar, has called on the Nigerian government to explain why Oando Plc, owned by President Bola Tinubu’s nephew, received accelerated approval to purchase the onshore assets of AGIP and ENI.

He highlighted the contrast with other transactions, such as the Shell/Renaissance deal and the Mobil/Seplat transaction, which continue to face delays.

Atiku accused the government of granting Oando undue preferential treatment in the oil and gas sector, sidelining more competent investors.

In a statement signed by his Special Assistant on Public Communication, Phrank Shaibu, Atiku criticized Tinubu’s administration for implementing what he described as a sham subsidy regime.

The 2023 Presidential candidate of the Peoples Democratic Party (PDP) also condemned the House of Representatives for failing to take appropriate action against the Nigerian National Petroleum Company Limited (NNPCL). He accused the NNPCL of mortgaging the nation’s oil assets to vested interests.

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Atiku pointed out that within just eight months, the Nigerian Upstream Production Regulatory Commission (NUPRC) approved the divestment of ENI/AGIP’s onshore assets to Oando.

He also noted that during the same period, Nigeria controversially withdrew all litigation against Shell/ENI in the OPL 245 scandal, which he suggested was a quid pro quo arrangement.

Atiku expressed his dismay by saying, “Ideally, democracy ought to be the 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.”

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

The House ad-hoc committee requested NNPC Ltd to provide information on several items, including registration documents and history from the Corporate Affairs Commission (CAC) for OVH, Nueoil, and NNPC Retail Limited (NRL), as well as the Board Resolution of NNPC Ltd on the purchase of OVH, audited financial statements, and management accounts from 2015 to date for OVH, Nueoil, NRL, and NNPC Ltd. They also requested payroll records and tax payment evidence from 2015 to date for NRL and OVH.

However, NNPC ignored these requests and proceeded to transfer its ownership and properties in its retail arm to OVH, which Atiku argued was mortgaging the future of Nigerians.