Grapevine

Tinubu has no interest in OVH acquisition – NNPC

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

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

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

Reacting, Soneye said investment decisions by the NNPC management are strictly determined based on commercial viability and national interest.

According to him, at the time the NNPC acquired OVH in 2022, Oando, in which Wale Tinubu has an equity interest, had fully divested its equity in OVH to the two other partners – Vitol and Helios.