The Nigerian National Petroleum Company Limited (NNPC) has denied allegations made by former Vice President Atiku Abubakar, who claimed that President Bola Tinubu and his cousin, Wale Tinubu, were involved in dubious dealings regarding NNPC’s acquisition of OVH.

Atiku accused President Tinubu of allowing corporate cabals to control NNPC and suggested that the retention of Mele Kyari as Group CEO was linked to these alleged dealings.

In response, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that the company is commercially driven, focusing on profitability and national interest rather than political agendas. The statement explained that Oando, associated with Wale Tinubu, had fully divested its interest in OVH by 2019, leaving Vitol and Helios as the sole equity partners.

NNPC acquired OVH in 2022, merging it with NNPC Retail Ltd to form a unified subsidiary under NNPC Ltd, with plans to retain the NNPC Retail Limited name post-merger.

The NNPC emphasized that neither Wale Tinubu nor President Tinubu had any involvement in the acquisition, underscoring the company’s commitment to transparency and national interest. NNPC’s 2023 Audited Financial Statement reported a profit after tax of N3.3 trillion, demonstrating the company’s effective management under Mele Kyari.