Tinubu Mortgaging Nigeria’s Future with Family Ties------ Atiku Abubakar
Former Vice President Atiku Abubakar accused President Bola Tinubu of mortgaging Nigeria’s future to his family and associates, comparing Tinubu’s business integration in Lagos to his actions at the federal level.
Former Vice President, Atiku Abubakar, has accused President Bola Tinubu of effectively mortgaging the future of Nigerians to his family, and associates adding that, breaking these ties would be almost impossible.
Atiku spoke in a statement signed by Spokesman, Paul Ibe. Atiku was also, the presidential candidate of the Peoples
Democratic Party, PDP, for the 2023 election.
He compared Tinubu’s integration of his business interests into Lagos’s public enterprises with 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 noted.
Atiku expressed surprise at the operations of the NNPC 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, owns 49% stake, and regretted that his intention to privatize the NNPC and increase its transparency had been overshadowed by what he described as the hijack of the NNPC by corporate interests around the current president.
His words, "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.
“Following this deal, Mele Kyari was controversially retained as NNPC GMD despite his incompetence. Tinubu then appointed his former boss at Mobil, turned ally, Pius Akinyelure, as NNPC Chairman, while he himself 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 situation means that Wale Tinubu’s Oando now owns 49% of NNPC Retail.
“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 noted.
Atiku expressed surprise at the operations of the NNPC 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, owns 49% stake, and regretted that his intention to privatize the NNPC and increase its transparency had been overshadowed by what he described as the hijack of the NNPC by corporate interests around the current president.
His words, "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.
“Following this deal, Mele Kyari was controversially retained as NNPC GMD despite his incompetence. Tinubu then appointed his former boss at Mobil, turned ally, Pius Akinyelure, as NNPC Chairman, while he himself 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 situation means that Wale Tinubu’s Oando now owns 49% of NNPC Retail.
"Moreover, Nigeria paid Wale Tinubu a significant sum to facilitate the Tinubu family’s acquisition of the national oil company. This represents a clear case of illogical business transactions and abuse of office by President Tinubu, who has prevented NNPC from becoming a public liability company as stipulated by the PIA.”
Atiku further noted that the NNPC and its leadership were under legislative investigation but expressed skepticism about the process’s credibility due to the vested interests of those conducting the investigation.
According to him, "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 calls him his godfather.
Atiku further noted that the NNPC and its leadership were under legislative investigation but expressed skepticism about the process’s credibility due to the vested interests of those conducting the investigation.
According to him, "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 calls him his godfather.
"Given that 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,."
The former Vice President also spoke
on the recent revelation that the Lagos-Calabar Coastal Highway project now under litigation.
The Organized Crime and Corruption Reporting Project, OCCRP, a global network of investigative journalists, had reported that the coastal highway project had 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.”
The former Vice President also spoke
on the recent revelation that the Lagos-Calabar Coastal Highway project now under litigation.
The Organized Crime and Corruption Reporting Project, OCCRP, a global network of investigative journalists, had reported that the coastal highway project had 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.”
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