NNPC Ltd has refuted allegations that President Bola Tinubu or his relative, Wale Tinubu, were involved in the acquisition of OVH by the national oil company.
The allegations, made by Paul Ibe, Media Adviser to former Vice President Atiku Abubakar, claimed the deal was part of a broader scheme to merge personal business interests with federal enterprises.
NNPC Ltd clarified that Oando, once associated with Wale Tinubu, had already divested its stake in OVH by 2019.
NNPC Ltd emphasized that all investment decisions are based solely on commercial viability and national interest, free from political influence.
The merger of NNPC Retail Ltd into OVH was conducted professionally, with the rebranded entity still operating under the name NNPC Retail Ltd.
The company reiterated that neither Wale Tinubu nor the President had any involvement in the acquisition.
The company also highlighted its financial success under Mr. Mele Kyari’s leadership, citing a profit after tax of N3.3 trillion in 2023.
NNPC Ltd remains committed to operating as a commercially driven enterprise focused on national interest, dismissing the allegations as baseless.