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NNPC Reacts to Atiku’s Allegations of Plan by Tinubu to Mortgage Nigeria’s Future via OVH Deal

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Former Vice President Atiku Abubakar
Former Vice President Atiku Abubakar
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The Nigerian National Petroleum Company Limited (NNPC Ltd) has reacted to allegations made by former Vice President Atiku Abubakar, accusing President Bola Tinubu of attempting to mortgage Nigeria’s future through the acquisition of OVH Energy by NNPC Ltd.

In a statement titled “OVH Acquisition: The Facts, by NNPC Ltd,” the company denied any personal interest by President Tinubu in the acquisition.

NNPC Ltd stated that investment decisions are based on commercial viability and national interest, and provided facts to counter Atiku’s allegations.

The company said that it is a commercially focused and profit-driven entity, managed by professionals committed to adding value to the nation. NNPC Ltd also clarified that the acquisition of OVH Energy was done without any interest from Wale Tinubu or President Tinubu.

The full text of the statement is as follows:

PRESS RELEASE

OVH Acquisition: The Facts, by NNPC Ltd

The attention of NNPC Ltd. has been drawn to a press release signed by Mr. Paul Ibe, a Media Adviser to the former Vice President, Alhaji Atiku Abubakar.

In the statement, the former Vice President was quoted to have lamented “the criminal hijack of the NNPC by corporate cabals around the current President”.

He was also quoted to have listed the retention of Mr. Mele Kyari as the Group Chief Executive Officer of NNPC Ltd as a compensation for the alleged acquisition of NNPC Retail Ltd. by OVH in which he claimed Mr. Wale Tinubu held 49% stake.

He further alleged that the NNPC Retail Ltd—OVH acquisition deal was part of a grand scheme by President Bola Ahmed Tinubu to integrate his personal business interests into Nigeria’s public enterprises at the federal level.

NNPC Ltd. wishes to set the records straight with the following facts:

1. We are a commercially-focused and profit-driven company managed by professionals who are committed to adding value to the nation.

2. Investment decisions by NNPC Ltd. Management are strictly determined on the basis of commercial viability and national interest.

3. At the time NNPC Ltd. acquired OVH in 2022, Oando (in which Mr. Wale Tinubu has equity interest), had fully divested its equity in OVH to the other partners – Vitol and Helios. Oando actually began its divestment in 2016, with Vitol and Helios coming in as equity partners, leading to the change of name from Oando to OVH. In 2019, Oando fully divested its equity interest in OVH resulting in Vitol and Helios holding 50% equity interests, respectively.

4.Upon acquisition of OVH by NNPC Ltd, both NNPC Retail Ltd. and OVH effectively became subsidiaries of NNPC Ltd. However, based on professional advice and sound commercial considerations, NNPC Ltd. opted to merge NNPC Retail Limited into OVH, and thereafter retain NNPC Retail Limited as the company name post-merger.

5. The first step of merging NNPC Retail Ltd. into OVH has been completed and the post-merger renaming as NNPC Retail Ltd. is ongoing.

6. Contrary to the false alarm raised, neither Wale Tinubu nor the President has any interest in the OVH acquisition.

7. As a businessman, the former Vice President should know that effectiveness in business leadership is best measured by balance sheets and bottom lines rather than pedestrian considerations.

8. The management of NNPC Ltd., under the leadership of Mr. Mele Kyari, has done very well in growing the company’s fortunes as shown in the 2023 Audited Financial Statement (AFS), where it reported N3.3 trillion as profit after tax.

9. NNPC Ltd. as a commercial entity is devoid of political interest and shall continue to conduct its business full of commitment to national interest and value creation for the benefit of all stakeholders. NNPC Ltd. shall resist any attempt to draw its Board and Management into partisan politics.

Olufemi Soneye Chief Corporate Communications OfficerNNPC Ltd.Abuja

22 August, 2024

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Senate Confirms Bernard Doro as Minister of Humanitarian Affairs

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Bernard Doro
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The Senate has confirmed the nomination of Bernard Doro as Nigeria’s new Minister of Humanitarian Affairs and Poverty Alleviation.

President Bola Ahmed Tinubu had forwarded Doro’s name to the upper legislative chamber for screening and confirmation in a letter dated October 21, 2025.

Doro’s appointment comes in the wake of the election of Dr. Nentawe Yilwatda as the National Chairman of the All Progressives Congress (APC) in July, a development that created a ministerial vacancy in the humanitarian affairs portfolio.

During Thursday’s plenary session, senators deliberated on the President’s request before unanimously confirming Doro’s nomination through a voice vote.

With his confirmation, Doro is expected to oversee ongoing humanitarian interventions, coordinate poverty reduction programs, and strengthen the government’s response to social welfare challenges across the country.

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Tinubu Grants Clemency to Selected Convicts

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President Bola Ahmed Tinubu
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*** Moves Prerogative of Mercy Secretariat to Justice Ministry

President Bola Ahmed Tinubu has signed the official instruments of clemency and pardon for selected individuals, completing the formal process of exercising his constitutional power of prerogative of mercy.

The decision followed consultations with the Council of State and a review of public opinion, according to a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy.

Under the review, individuals convicted of serious offences such as kidnapping, drug trafficking, human trafficking, fraud, and unlawful possession of firearms were removed from the list of beneficiaries. Others who had previously been pardoned had their sentences commuted.

Onanuga said the review was guided by considerations of national security, the feelings of victims, the morale of law enforcement agencies, and Nigeria’s international obligations. He added that the concept of justice as a “three-way traffic” — involving the accused, the victim, and the state — informed the President’s decision.

The approved list of eligible beneficiaries has been forwarded to the Nigerian Correctional Service for implementation.

In a related directive, President Tinubu ordered the immediate relocation of the Secretariat of the Presidential Advisory Committee on Prerogative of Mercy from the Ministry of Special Duties to the Federal Ministry of Justice.

The President also instructed the Attorney-General of the Federation to issue new guidelines for exercising the power of mercy, mandating consultation with relevant prosecuting agencies to ensure that only qualified individuals benefit from future clemency exercises.

Tinubu expressed appreciation for the feedback received from stakeholders and the public, reaffirming his administration’s commitment to judicial reform and the improvement of Nigeria’s justice system.

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Senator Bamidele Donates Brand-New 2025 Coaster Bus to Ekiti APC

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Brand New Bus Donated by Senate Leader, Sen. Opeyemi Bamidele
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The Senate Leader, Senator Michael Opeyemi Bamidele (MOB), has once again demonstrated his characteristic leadership and commitment to party development by donating a brand-new 2025 model Coaster Bus to the All Progressives Congress (APC) Ekiti State Executive Committee.

The presentation, described as a remarkable gesture of support and solidarity, underscores Senator Bamidele’s unwavering dedication to strengthening the party’s administrative capacity, enhancing mobility, and promoting unity among members across the state.

According to sources within the party, the new bus will serve as a vital logistical asset for the state secretariat, enabling smoother coordination of activities and improved communication between local government chapters and the state executive.

Party leaders and members have commended Senator Bamidele for his consistent contributions to the progress of the APC in Ekiti State and beyond. They described him as a dependable and visionary leader whose service-driven approach continues to inspire confidence and cohesion within the party structure.

Senator Bamidele, who also serves as the Chairman of the Southern Senators’ Forum, has over the years maintained a reputation for responsive leadership, philanthropy, and political maturity. His latest donation aligns with his broader vision of building a stronger and more effective APC that reflects the principles of good governance and grassroots participation.

In his usual manner, the Senate Leader emphasized that leadership must be about service, sacrifice, and empowerment, noting that his gesture was aimed at supporting the smooth functioning of the party machinery in the state.

“Our strength as a party lies in unity and effective coordination,” Senator Bamidele was quoted as saying. “This gesture is my modest contribution toward ensuring that our great party in Ekiti remains vibrant, mobile, and united in purpose.”

With this latest intervention, Senator Bamidele has once again reaffirmed his position as a pillar of support and a symbol of progressive leadership within the APC, both in Ekiti State and at the national level.

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