Atiku Challenges President Tinubu Over Alleged Nepotism in Oil Asset Sale

Nigeria’s former Vice President, Atiku Abubakar, has raised serious concerns about the rapid approval of the sale of oil assets to a company linked to President Bola Tinubu’s nephew. In a statement released by his special assistant on public communications, Phrank Shaibu, Atiku accused President Tinubu of granting preferential treatment to his family members in the acquisition of key oil resources, while other similar transactions have faced prolonged delays.

Atiku specifically questioned the approval process that allowed Oando Plc, reportedly linked to Tinubu’s nephew, to swiftly acquire assets from ENI/AGIP. He contrasted this with the ongoing delays in the approval of other significant transactions, such as the proposed acquisition of Mobil’s assets by SEPLAT, which has been pending for over three years, and the stalled deal between Shell and The Renaissance.

The 2023 presidential candidate for the Peoples Democratic Party (PDP) criticized the Tinubu administration for allegedly turning Nigerian democracy into a “government of the president and his family.” Atiku pointed out that while Oando’s acquisition was approved within just eight months, other companies have struggled to move forward with their transactions, despite being in the pipeline for much longer.

Atiku also expressed his dissatisfaction with the House of Representatives, accusing them of not adequately scrutinizing the Nigerian National Petroleum Company Limited (NNPCL) and allowing the sale of the country’s oil resources to private interests. He cited a specific instance where the House, following a motion by Miriam Onuoha, directed NNPCL to halt the sale of OVH assets pending further investigation. However, Atiku contends that NNPCL has not been forthcoming with necessary documents and information requested by the House’s select committee, raising concerns about transparency and accountability.

Furthermore, Atiku accused the NNPCL of misleading the public regarding the appointment of key executives, claiming that the corporation falsely denied appointing Huub Stoksman, a former CEO of OVH Energy, as a director at NNPC Retail. Atiku suggested that such appointments indicate a deeper level of cronyism within the administration.

Atiku’s statement has intensified the debate over the integrity of the oil asset sales and the broader issue of nepotism within the current Nigerian government. His accusations are likely to fuel further scrutiny and calls for transparency in the management of the country’s oil resources.