Investigations into the Dangote/NNPCL has been revealed by the media (not tdpnewsng.com).
Accordingly to the report, in 2022, NNPC had announced that they have acquired OVH Energy, a company owned by Oando oil company, that runs Oando filling stations.
"They said OVH Energy would be merged with NNPC Limited - which is in charge of downstream operations (refining, marketing and distribution of petroleum)."
The investigation went on to say that now, in the eyes of Nigerians, the NNPC acquired OVH Energy. But in reality, it was OVH Energy that acquired NNPC Retail.
"In June 2023, barely a month after Tinubu took over office, the tables turned and OVH took over operations of the NNPC Limited.
"Later, the investigation, where they interviewed key personnel of the NNPC, revealed that the entire operations of NNPC Retail is owned by OVH.
"In fact, Huub Stokman, an expatriate who was the CEO of OVH is now the MD of NNPC Retail - they pursued Margret Okadigbo (a Nigerian) and replaced her with Huub.
"A key official of the NNPC even said that the deal is “the worst possible acquisition deal ever.
"In September, 2023, Mele Kyari, the MD of NNPC, in defending the allegations, said that the NNPC made an all-time high profit of N18.4 billion because of the deal with OVH Energy.
"Interestingly, the NNPC needed to borrow $1.036 billion just to buy 7.2% shares in Dangote Refinery - out of the 20% initially agreed.
"Mele Kyari turned around and said that the NNPC didn’t have the money to buy the remaining 12.8% of the 20% shares - in just less than 9 months after claiming they made an all-time high profit.
"Worse still, the NNPC wants to borrow another $2 billion, for whatever purpose.
"Now, Dangote and the NNPC are in a fierce battle over the Dangote Refinery," the revealed.
In the midst of the 'movie', it’s worthy of note that, Oando which owns OVH is run by Wale Tinubu as its CEO.
"Wale Tinubu is President Bola Ahmed Tinubu’s nephew and longtime business partner. Their partnership grew from 2002, when Tinubu as governor of Lagos, established Alpha-Beta."
0 Comments