Reps Gives Update On ‘NNPC Fraudulent Acquisition Of OVH Energy’

Reps Gives Update On ‘NNPC Fraudulent Acquisition Of OVH Energy’

The House of Representatives ad hoc committee tasked with investigating the alleged fraudulent acquisition of OVH Energy by the Nigerian National Petroleum Corporation (NNPC) Ltd is preparing to present its report to the House.

This announcement was made in a statement released by the Chairman of the ad hoc Committee, Hassan Nalaraba, following an oversight function and facility tour of OVH Energy assets acquired by NNPCL in Lagos State.

Mr. Nalaraba assured Nigerians that the committee’s report would accurately reflect its findings and recommendations.

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Among the assets inspected by the committee were storage facilities located at Apapa Terminal 1, Ikeja Aviation Terminal, Parking Store/Warehouse in Apapa, as well as the ASPM Jetty at Admiralty Channel, among others.

The committee also observed assets such as a 6 million-liter storage for AGO, a 23 million-liter storage for PMS, ATK, and other storage tanks. Additionally, they visited the former OVH head office, a 17 million-liter Lubricant Blending Kettle located within the lubricant Plant, and a Jetty, among others.

During the tour, Dipo Makinde, who guided the members, informed them about NNPC retail’s Drum Production Plant in Kaduna State. He emphasized the commitment to extracting more value from the chain, with the aim of increasing dividends up to 80 percent for the Federation Account.

Mr. Makinde also assured the committee that NNPC retail is gradually reducing the use of the Oando brand and that necessary measures have been implemented to ensure the safety of all equipment within the plants.

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