The previous VP repeated and underlined his case that Oando was getting unjustifiable and positiv treatment in the oil and gas industry, which he accepts is hurting more skilled and meriting financial backers.
Previous VP Atiku Abubakar has asked the President Bola Tinubu's organization to make sense of for what valid reason Oando Plc claimed by the President's nephew, got a sped up endorsement to purchase the inland resources of AGIP and ENI while different exchanges like the Shell/Renaissance bargain and the Mobil/Seplat keep on enduring deferrals.
The former Peoples Democratic Party presidential candidate also slammed the Tinubu’s administration for implementing a “sham subsidy regime as revealed in the financial statement recently released by the Nigerian National Petroleum Company Limited (NNPCL)”.
In an explanation gave through his media associate, Paul Ibe on Sunday, Atiku said, "Tinubu visited the FMDQ in New York, visited Qatar, visited France where he lied about eliminating petroleum endowments.
"Clearly, this isn't a man who doesn't generally joke around about drawing in FDI. More troubling is that he isn't even sufficiently daring to concede that endowment is being paid. The NNPCL concedes that N7.8tn is owed to the public oil organization by the Nigerian government.
"IMF gauges that sponsorship installments this year will comprise 3% of Gross domestic product, which is about $7.5bn. This will be about N11.8tn. However, the petroleum shortage keeps on waiting while the Tinubu organization keeps on baffling the Dangote Processing plant and, surprisingly, its own NNPCL offices.
“Obviously, the subsidy regime has become an even wider conduit pipe through which monies for funding the 2027 election will come from.”
The previous VP repeated and accentuated his case that Oando was getting uncalled for and positive treatment in the oil and gas industry, which he accepts is hurting more proficient and meriting financial backers.
Atiku likewise thumped the Place of Delegates for neglecting to make a legitimate move on the NNPCL which has now gone on to "contract the country's public oil resources for personal stakes".
Atiku said, “Within just eight months, the Nigerian Upstream Production Regulatory Commission (NUPRC) approved a deal which saw the divestment of ENI/AGIP onshore assets to Oando.
"Inside that equivalent period, Nigeria questionably pulled out all case against Shell/ENI in the OPL 245 embarrassment in what has been portrayed as a renumeration.
"In any case, the endeavor by SEPLAT to purchase Mobil's coastal resources has kept on slowing down throughout the previous three years even as the assent letter stays on Tinubu's table. The arrangement among Renaissance and Shell keeps on slowing down. As a matter of fact, the main arrangement that has completely scaled through so far is the one including Oando. We currently know why it got sped up endorsement.
“Ideally, democracy ought to be government of the people, for the people, and by the people. But democracy in Nigeria has become the government of Tinubu, by Tinubu, and for Tinubu and his family members.”
Last Thursday, SaharaReporters announced that Oando PLC had finalised its acquisition of Nigerian Agip Oil Company (NAOC) from Italian energy major Eni, marking a significant achievement in its long-term growth strategy.
Last Thursday, SaharaReporters reported that Oando PLC had finished its procurement of Nigerian Agip Oil Organization (NAOC) from Italian energy major Eni, denoting a critical accomplishment in its drawn out development technique.
The all out thought for the arrangement is $783 million, which incorporates repayment and thought for the resource, as affirmed by Oando in an official statement.
Commenting, Wale Tinubu, Group Chief Executive, Oando PLC, said: "Today's announcement is the culmination of ten years of toil, resilience, and an unwavering belief in the realisation of our ambition since the 2014 entry into the Joint Venture via the acquisition of Conoco-Philips Nigerian Portfolio.”
“The House ad-hoc committee requested the NNPC Ltd to furnish it with information about registration documents/history from CAC for OVH, Nueoil, and NNPC Retail Limited (NRL), Board Resolution of NNPC Ltd on purchase of OVH, Audited Financial Statement and Management Accounts from 2015 to date of OVH, Nueoil, NRL and NNPC Ltd and the payroll from 2015 to date for NRL and OVH; Board Resolution of NRL/CHQ for movement of head office to Lagos and evidence of Tax Payments for NRL and OVH from 2015 to date.”
“The NNPC ignored all these and went ahead to transfer its ownership and properties in its retail arm to OVH, thereby mortgaging the future of Nigerians,” Atiku added.
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