NNPC Ltd refutes allegations by former Vice President Atiku Abubakar that President Bola Tinubu is involved in the acquisition of NNPC Retail by OVH. The company emphasizes its commitment to commercial interests, asserting that Oando, linked to Wale Tinubu, had divested its stake before the acquisition.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has addressed accusations by former Vice President Atiku Abubakar, who claimed that President Bola Tinubu has improperly influenced the acquisition of NNPC Retail Ltd by OVH. Atiku's allegations suggested that Tinubu and his associates were involved in questionable dealings with the oil sector.
In response, NNPC Ltd's Chief Corporate Communications Officer, Olufemi Soneye, refuted these claims, asserting that the company's decisions are driven by commercial and national interests rather than political motives. Soneye clarified that Oando, formerly associated with Wale Tinubu, had completely divested its shares in OVH before NNPC's acquisition.
Soneye explained that NNPC’s merger of NNPC Retail Ltd with OVH was carried out based on expert advice and aims to improve operational efficiency. He emphasized that neither Wale Tinubu nor President Tinubu has any financial stake in OVH. NNPC Ltd emphasized its commitment to transparency and its focus on commercial success, citing a significant profit of N3.3 trillion reported in its 2023 financial statement.
