The Nigerian National Petroleum Company Limited (NNPC Ltd) has responded to allegations by former Vice President Atiku Abubakar, who accused President Bola Tinubu of using the OVH Energy acquisition to mortgage Nigeria’s future. In a detailed statement, NNPC Ltd denied any personal interest from President Tinubu or Wale Tinubu in the deal, emphasizing that the acquisition was based solely on commercial viability and national interest. NNPC Ltd also highlighted its commitment to transparency, profitability, and distancing itself from political influences.
PRESS RELEASE
OVH Acquisition: The Facts, by NNPC Ltd
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The NNPC Ltd has addressed recent claims made by Mr. Paul Ibe, Media Adviser to former Vice President Alhaji Atiku Abubakar, regarding the OVH acquisition. These allegations have been clarified as follows:
1. NNPC Ltd operates as a commercially driven entity, prioritizing national interest and commercial viability.
2. The acquisition of OVH in 2022 had no personal interest from President Tinubu or Wale Tinubu, with Oando having fully divested from OVH in 2019.
3. NNPC Ltd merged NNPC Retail Ltd into OVH for strategic reasons, retaining the NNPC Retail name post-merger.
4. The company maintains its focus on profit generation and growth, reporting significant profits under Mr. Mele Kyari’s leadership.
5. NNPC Ltd remains committed to avoiding political entanglements and will continue prioritizing value creation for Nigeria.
**Olufemi Soneye**
**Chief Corporate Communications Officer, NNPC Ltd**
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