The Nigerian National Petroleum Company Limited (NNPCL) has dismissed allegations made by former Vice President Atiku Abubakar, linking President Bola Tinubu and Mr. Wale Tinubu to the acquisition of OVH.
In a statement released his media aide, Paul Ibe, Atiku claimed that President Tinubu was involved in the alleged acquisition of NNPC Retail Ltd by OVH, in which Wale Tinubu supposedly held a 49% stake.
He further alleged that this deal was part of a broader scheme by President Tinubu to integrate his personal business interests into Nigeria’s federal public enterprises.
However, in a statement issued on Thursday by its Chief Corporate Communications Officer, Olufemi Soneye, NNPCL refuted these claims, stating that neither President Tinubu nor Wale Tinubu has any interest in the OVH acquisition.
NNPCL clarified that the acquisition of OVH in 2022 was a business decision driven by commercial viability and national interest.
The company explained that Oando, in which Wale Tinubu has equity, had fully divested its interest in OVH to Vitol and Helios by 2019, long before the NNPCL acquisition.
NNPCL emphasized that the integration of NNPC Retail Ltd with OVH was based on professional advice and sound commercial considerations, and the post-merger renaming process is ongoing.
The company also stressed that it operates as a commercially-focused entity and will continue to prioritize national interest and value creation, resisting any attempts to involve its management in partisan politics.
