The future of Nigerians has been effectively mortgaged to President Bola Tinubu, his family, and associates,” Mr Atiku said.
The candidate of the Peoples Democratic Party (PDP) in the last election and former vice president of Nigeria, Atiku Abubakar, on Wednesday alleged that the future of Nigerians is being mortgaged by President Bola Tinubu, his family, and associates.
Atiku, in a statement signed by his Media Adviser, Paul Ibe, on Wednesday, said he believes that even after Mr Tinubu leaves office, breaking these shackles will be nearly impossible.
Atiku compares Mr Tinubu’s integration of his business interests into Lagos’s public enterprises to his efforts at the federal level.
“Just as Alpha Beta, Primero, and others act as Tinubu’s proxies in Lagos, managing critical sectors and generating revenue for him and his family, he has begun to replicate this at the federal level,” he said.
He expressed astonishment at the operations of the Nigerian National Petroleum Company Limited (NNPC Ltd) and how the government-owned oil company had put its retail arm under the control of OVH, a company in which Oando, led by Wale Tinubu, a relative of the president, owns 49 per cent.
The statement said Atiku regretted that his intention to privatise the NNPC and increase its transparency has been overshadowed by what he describes as the “criminal hijacking of the NNPC by corporate cabals around the current president.”
“In October 2022, just five months before the elections, the NNPC Retail controversially announced it had acquired OVH and all its filling stations. NNPCL already had about 550 filling stations across the country but claimed it was enhancing its capacity by acquiring OVH, which had only 94 stations and 100 others leased.
“The NNPC did not disclose the purchase price of OVH or the terms of the acquisition. A Freedom of Information request by Premium Times was also rejected by the NNPC, which claimed to be a private company despite still being government-owned,” he said.
Following this controversial deal, he said Mele Kyari, the NNOC boss, was controversially retained as NNPC group managing director “despite his incompetence.”
“Tinubu then appointed his former boss at Mobil, turned ally, Pius Akinyelure, as NNPC Chairman, while he took on the role of Minister of Petroleum.
“In a move that defies economic logic, OVH, previously owned by NNPC Retail, has now acquired NNPC Retail. This absurd situation means that Wale Tinubu’s Oando now owns 49 per cent of NNPC Retail,” he said.
Atiku said Nigeria paid Wale Tinubu a significant sum to facilitate the Tinubu family’s acquisition of the national oil company.
He said this represents a clear case of illogical business transactions and abuse of office by Mr Tinubu, who has prevented NNPC from becoming a public liability company as stipulated by the Petroleum Industry Act (PIA).PREMIUM TIMES reported how OVH Energy effectively took control of NNPC Retail’s management, prompting an NNPC insider to describe the deal as “the most ridiculous business acquisition in the world”.
The former vice president acknowledged that the NNPC and its leadership are under legislative investigation but expressed scepticism about the process’s credibility due to the vested interests of those conducting the investigation.
“Senator Opeyemi Bamidele, who is heading the National Assembly panel, is a known supporter of Tinubu. He served as a commissioner under Tinubu in Lagos State and publicly called him his godfather,” Atiku said.
He said that since Tinubu is the Petroleum Minister, he should be held responsible for the sector’s issues.
“I doubt Bamidele will conduct a thorough investigation that might implicate his patron,” he added.
Commenting on the recent revelation that the Lagos-Calabar Coastal Highway project is under litigation, Atiku explained that the Organised Crime and Corruption Reporting Project (OCCRP), a global network of investigative journalists, reported that the coastal highway project has been taken to court and revealed a close relationship between Tinubu’s son, Seyi, and Gilbert Chagoury, who was awarded the contract without competitive bidding.
“I had earlier claimed that the Lagos-Calabar Coastal Highway project was fraudulent, but the government denied it. Now, the matter is in court. It is also concerning that Chagoury and Tinubu have a business relationship, and their children are business partners, as revealed by the OCCRP.”
This, he said, indicates a conflict of interest.
“It is no surprise that the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Coastal Highway, which together will cost over $24 billion, were approved without competitive bidding. It seems that whatever Tinubu wants, he gets,” he said.