Former Vice President Atiku Abubakar has called for an explanation from the Nigerian government regarding the swift approval granted to Oando Plc, a company owned by President Bola Tinubu’s nephew, for the acquisition of AGIP and ENI’s onshore assets.
Atiku questioned why this deal was expedited while other significant transactions, such as Shell/Renaissance and Mobil/Seplat, face prolonged delays.
In a statement issued by his Special Assistant on Public Communication, Phrank Shaibu, Atiku accused the current administration of giving Oando undue preferential treatment.
“The government’s actions suggest a disturbing trend of favoritism towards certain investors, disadvantaging more competent players in the oil and gas sector,” Atiku stated.
He further criticized the Tinubu administration’s handling of the subsidy regime, describing it as a “sham.”
Atiku also expressed discontent with the House of Representatives for failing to act decisively on the Nigerian National Petroleum Company Limited (NNPCL), which he claims has “mortgaged the country’s national oil assets to vested interests.”
Atiku said, “Within just eight months, the Nigerian Upstream Production Regulatory Commission (NUPRC) approved a deal that saw the divestment of ENI/AGIP onshore assets to Oando. During the same period, Nigeria controversially withdrew all litigation against Shell/ENI in the OPL 245 scandal, which has been described as a quid pro quo.”
The former Vice President accused the government of undermining democratic principles, stating, “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.”
Atiku also criticized the House of Representatives for its inaction regarding the Nigerian National Petroleum Company Limited’s (NNPC Ltd) acquisition of OVH assets.
“In July 2023, following a motion moved by Miriam Onuoha, the House directed NNPC Ltd to suspend the acquisition pending an investigation by its committee,” Atiku said.
He added, “The House ad-hoc committee requested various documents from NNPC Ltd, including registration documents, audited financial statements, and tax payment records. NNPC Ltd ignored these requests and proceeded with the transfer of its ownership and properties in its retail arm to OVH, thus mortgaging the future of Nigerians.”
The statement concluded with Atiku calling for immediate action to address these concerns and ensure transparency in the management of Nigeria’s oil and gas assets.