Former Vice President of Nigeria, Atiku Abubakar, has raised concerns over the Federal Government’s preferential treatment towards Oando Plc in its acquisition of AGIP and ENI’s onshore assets, while other transactions such as Shell’s deal with Renaissance and SEPLAT’s purchase of Mobil’s assets have been delayed.
In a statement through his spokesperson, Phrank Shaibu, Atiku criticized the Nigerian Upstream Production Regulatory Commission (NUPRC) for fast-tracking Oando’s deal while other significant acquisitions in the oil and gas sector remain stalled.
Atiku said, “Within just eight months, the Nigerian Upstream Production Regulatory Commission (NUPRC) approved a deal which saw the divestment of ENI/AGIP onshore assets to Oando.
“Within that same period, Nigeria controversially withdrew all litigation against Shell/ENI in the OPL 245 scandal in what has been described as a quid pro quo.
“However, the attempt by SEPLAT to buy Mobil’s onshore assets has continued to stall for the last three years even as the consent letter remains on Tinubu’s table.
“The deal between Renaissance and Shell continues to stall. In fact, the only deal that has fully scaled through so far is the one involving Oando. We now know why it got accelerated approval.
“Ideally, democracy ought to be government of the people, for the people, and by the people. But democracy in Nigeria has become the government of Tinubu, by Tinubu, and for Tinubu and his family members.”
Atiku also accused the government, under President Bola Tinubu, of favoring certain vested interests, and expressed disappointment in the House of Representatives for not adequately addressing the situation with the Nigerian National Petroleum Company Limited (NNPCL).
He further noted that the NNPCL’s transfer of its retail arm to OVH, despite an ongoing investigation and directives from the House of Representatives, exemplifies the government’s disregard for due process and the interests of Nigerians.
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