The management of NNPC Ltd, led by Chief Corporate Communications Officer Femi Soneye, has responded to allegations by former Vice President, Atiku Abubakar, regarding the recent acquisition of OVH. Atiku claimed that the retention of Mr. Mele Kyari as Group CEO and the OVH acquisition were influenced by President Bola Ahmed Tinubu’s personal business interests. NNPC Ltd stated that the company is focused on commercial viability and national interest. The firm clarified that by 2019, Wale Tinubu’s Oando had fully divested from OVH. Therefore, neither Tinubu nor President Tinubu has any stake in the OVH acquisition. Post-acquisition, OVH and NNPC Retail Ltd merged, and the NNPC name will be retained post-merger. The NNPC also highlighted its strong financial performance under Kyari’s leadership as evidenced by a N3.3 trillion profit after tax in its 2023 Audited Financial Statement.
Energy, Corporate Finance,Nigeria
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