Wale Tinubu doesn’t have interest in OVH acquisition, NNPC replies Atiku

The Nigerian National Petroleum Company Limited says President Bola Tinubu and Wale Tinubu, chief executive officer of Oando, do not have any interest in the OVH Energy acquisition.that OVH Energy — previously owned by the national oil firm —This absurd situation means that Wale Tinubu’s Oando now owns 49% of NNPC retail,” Atiku had said.

“We are a commercially-focused and profit-driven company managed by professionals who are committed to adding value to the nation.“Investment decisions by NNPC Ltd Management are strictly determined on the basis of commercial viability and national interest. In 2019, according to the company, Oando fully divested its equity interest in OVH resulting in Vitol and Helios “holding 50% equity interests respectively”.“Upon acquisition of OVH by NNPC Ltd, both NNPC Retail Ltd and OVH effectively became subsidiaries of NNPC Ltd,” the statement further reads.

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