Former Vice President Atiku Abubakar has called on the Federal Government to explain why Oando Plc, owned by President Tinubu’s nephew Wale Tinubu, received expedited approval to acquire the onshore assets of AGIP and ENI, while other transactions like the Shell/Renaissance deal and the Mobil/Seplat deal have faced alleged delays,leadership reports.
Atiku also criticized the Bola Tinubu administration for implementing what he described as a fraudulent subsidy regime, as revealed in the recent financial statement released by the Nigerian National Petroleum Company Limited (NNPCL).
In a statement by his Special Assistant on Public Communication, Phrank Shaibu, Atiku said, “Tinubu visited the FMDQ in New York, Qatar, and France, where he falsely claimed to have removed petrol subsidies. This is clearly not someone serious about attracting Foreign Direct Investment. What’s more concerning is that he lacks the courage to admit that subsidies are still being paid. The NNPCL has stated that the Nigerian government owes it N7.8 trillion.”
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He added, “The IMF estimates that subsidy payments this year will account for 3% of GDP, approximately $7.5 billion or about N11.8 trillion. Yet, fuel scarcity persists, and the Tinubu administration continues to hinder the Dangote Refinery and its own NNPCL facilities. The subsidy regime has become a wider conduit for funneling money for the 2027 election.”
Atiku reiterated his accusation that Oando is receiving preferential treatment in the oil and gas sector, at the expense of more competent investors. The Peoples Democratic Party (PDP) presidential candidate in the last election also criticized the House of Representatives for failing to take action against the NNPCL, which he accused of “mortgaging the country’s national oil assets to vested interests.”
Atiku said, “In just eight months, the Nigerian Upstream Production Regulatory Commission (NUPRC) approved a deal allowing the divestment of ENI/AGIP onshore assets to Oando. During this same period, Nigeria controversially dropped all litigation against Shell/ENI in the OPL 245 scandal, in what appears to be a quid pro quo.”
He continued, “However, SEPLAT’s attempt to acquire Mobil’s onshore assets has been stalled for the last three years, with the consent letter still on Tinubu’s desk. The deal between Renaissance and Shell also remains stalled. The only deal that has fully gone through is the one involving Oando, and now we know why it received accelerated approval.”
Atiku further remarked, “Democracy should be government of the people, for the people, and by the people. But in Nigeria, it has become the government of Tinubu, by Tinubu, and for Tinubu and his family.”
He added that in July 2023, the House of Representatives, following a motion by Miriam Onuoha, directed NNPC Ltd to suspend the acquisition of OVH assets pending an investigation. However, despite the House’s request for various documents and records related to the acquisition, the NNPC ignored these and proceeded with the transfer of ownership, “mortgaging the future of Nigerians.”
Atiku also pointed out that despite issues in the oil sector, key figures such as the heads of the NNPC, NUPRC, and NMDPRA remain in their positions, suggesting they are fulfilling the mandate given to them by Tinubu.
Moreover, Atiku accused the NNPC of dishonesty in its response to a previous statement, noting that the Kyari-led management had appointed former OVH Energy executives to key positions within NNPC Retail before the merger of the two entities.
In a related development, Atiku criticized the Tinubu administration for a rise in human rights abuses. He argued that Tinubu, who came to power with claims of being a freedom fighter, has turned against the people by allowing the Department of State Services (DSS), police, and military to abuse citizens’ rights without consequences.
Atiku highlighted instances of journalists being arrested and detained without due process, and the misuse of the Cyber Crime Prevention Act 2015 to intimidate citizens. He warned that if Tinubu does not address these human rights abuses, Nigeria risks facing sanctions that could hinder its ability to combat insecurity.
He concluded by mentioning that Amnesty International has a pending petition before the US Congress’s Foreign Committee regarding the sale of weapons to Nigeria due to concerns over human rights violations. Atiku urged Tinubu to curb these abuses, as all law enforcement agencies report to him as commander-in-chief.
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