Atiku challenges FG on rapid approval of Oando’s AGIP/ENI purchase
Former Vice President of Nigeria, Atiku Abubakar, has called on the Federal Government to explain why Oando Plc, owned by the President’s nephew, received accelerated approval to purchase the onshore assets of AGIP and ENI, while other transactions such as the Shell/Renaissance deal and the Mobil/Seplat acquisition continue to face delays.
Atiku also criticized the Bola Tinubu administration for its ineffective subsidy regime, as revealed in the recent financial statement from the Nigerian National Petroleum Company Limited (NNPCL).
“Tinubu visited the FMDQ in New York, Qatar, and France, where he made false claims about removing petrol subsidies. Clearly, this is not a man serious about attracting foreign direct investment (FDI). More concerning is his failure to admit that subsidies are still being paid. The NNPCL reports that N7.8 trillion is owed to the national oil company by the Nigerian government,” he stated.
“IMF estimates that subsidy payments this year will constitute 3% of GDP, amounting to about $7.5 billion, which is approximately N11.8 trillion. Despite this, petrol scarcity persists, and the Tinubu administration continues to hinder both the Dangote Refinery and its own NNPCL facilities. Clearly, the subsidy regime has become an even larger conduit for diverting funds intended for the 2027 election,” Atiku said.
The former Vice President reiterated his allegations that Oando is receiving undue and preferential treatment in the oil and gas sector at the expense of more competent investors.
The Presidential candidate of the Peoples Democratic Party (PDP) in the last election also criticized the House of Representatives for failing to address issues with the NNPCL, which he claims has “mortgaged the country’s national oil assets to vested interests.”
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Atiku stated, “Within just eight months, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) approved a deal that saw the divestment of ENI/AGIP’s 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.
“However, the attempt by SEPLAT to acquire Mobil’s onshore assets has continued to stall for the past three years, even as the consent letter remains on Tinubu’s desk. The deal between Renaissance and Shell also remains stalled. In fact, the only deal that has fully proceeded so far is the one involving Oando. We now understand why it received accelerated approval.
“Ideally, democracy should be government of the people, by the people, and for the people. However, in Nigeria, democracy has become the government of Tinubu, by Tinubu, and for Tinubu and his family members.”
Atiku added, “In July 2023, following the adoption of a motion by Miriam Onuoha, the House of Representatives 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 about registration documents/history from CAC for OVH, Nueoil, and NNPC Retail Limited (NRL), Board Resolutions of NNPC Ltd regarding the purchase of OVH, audited financial statements and management accounts from 2015 to date for OVH, Nueoil, NRL, and NNPC Ltd, payroll information from 2015 to date for NRL and OVH, Board Resolutions of NRL/CHQ regarding the movement of the head office to Lagos, and evidence of tax payments for NRL and OVH from 2015 to date.
“NNPC ignored these requests and proceeded to transfer ownership and properties in its retail arm to OVH, thereby mortgaging the future of Nigerians.
“Despite the issues in the oil sector, the heads of the NNPC, NUPRC, and NMDPRA continue to retain their positions. This is clear evidence that they are fulfilling the mandate given to them by Tinubu.”
Furthermore, Atiku pointed out that the NNPC provided misleading information in its response to their statement last week, noting that it is on record that the Kyari-led management appointed Huub Stoksman, a former Chief Executive Officer of OVH Energy, as Managing Director of NNPC Retail, and Mumuni Dangazau, the former Chief Operating Officer of OVH Energy, as his Special Adviser Downstream, well before the merger of the entities.
In a related development, Atiku also criticized the Tinubu administration for the rise in human rights abuses.
The Waziri Adamawa, Atiku Abubakar, criticized President Tinubu for turning against the people despite his campaign claims of being a freedom fighter. Atiku accused Tinubu of allowing the Department of State Services (DSS), police, and even the military to abuse citizens’ rights without consequence.
He noted that in some cases, citizens were arrested in a Gestapo-like manner, with their relatives left searching for them for weeks.
Atiku stated that journalists have been particularly affected since Tinubu took office, with their only crime being the reporting of news and exposing government misconduct.
He argued that the Cyber Crime Prevention Act of 2015 has become a tool for officials in the Tinubu administration to abduct citizens, and that the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) has transformed into a new version of the defunct SARS.
Atiku added, “The dangerous trend of enforced disappearances has become a national embarrassment for a country that claims to practice democracy. On May 1, 2024, Daniel Ojukwu of the Foundation for Investigative Journalism went missing and was presumed abducted until he was later found to be in police custody on the orders of IGP Kayode Egbetokun. Ojukwu’s crime was exposing the corruption of a government official currently serving in Tinubu’s administration.
“On July 23, the DSS arrested Aliyu Sanusi in Sama Road, Sokoto, for printing and distributing materials ahead of the #EndBadGovernanceProtest. The arrest and release of Adejuwon Soyinka, the former BBC Pidgin Editor and current West Africa Regional Editor of The Conversation, clearly show a pattern intended to intimidate journalists who speak truth to this government.
“Now, the police have arrested Bristol Tamunobiefiri, owner of the PIDOM Nigeria blog on X (formerly Twitter). After detaining him for over two weeks, he was granted administrative bail, which is nearly impossible to meet. This is despite the Appeal Court ruling in EFCC v. Emem Uboh (2022) LPEIR – 57968 (CA) that administrative bail is illegal. Bristol should be either arraigned in court immediately or released.”
Atiku advised Tinubu to address human rights abuses seriously or risk Nigeria facing sanctions that could hinder Western powers from selling weapons, potentially undermining the country’s ability to address insecurity.
“Amnesty International still has a pending petition before the Foreign Committee of the US Congress against the sale of weapons to Nigeria due to human rights concerns in line with the Leahy Law. Tinubu would do well to curb these abuses by law enforcement authorities, who report to him as commander-in-chief,” the former Vice President said.
Proofreading by Uchechi Ojo, Sub-editor at Neptune Prime.
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