Atiku Abubakar, the Peoples Democratic Party (PDP) flagbearer in the 2023 presidential election and former Vice President of Nigeria, has accused President Bola Ahmed Tinubu of treating the country’s affairs as if they were a family business. According to him, Nigeria is degenerating into a Government of Tinubu, by Tinubu and for Tinubu.
Atiku made a specific allegation on Wednesday that President Bola Tinubu, his family, and associates are jeopardizing Nigerians’ future in a statement signed by his Media Adviser, Paul Ibe.
Atiku equates Tinubu’s incorporation of his business interests into Lagos’s public enterprises with his endeavors 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 said.
He expressed dismay with the operations of the Nigerian National Petroleum Company Limited (NNPCL) and how the government-owned oil company had merged its retail division with OVH, a company that Oando, a relative of the president, owns 49% of.
The statement said Atiku regretted that his intention to privatise the NNPC and increase its transparency has been overshadowed by what he describes as the “criminal hijacking of the NNPC by corporate cabals around the current president.”
“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,” he said.
Following this controversial deal, he said Mele Kyari, the NNOC boss, was controversially retained as NNPC group managing director “despite his incompetence.”
“Tinubu then appointed his former boss at Mobil, turned ally, Pius Akinyelure, as NNPC Chairman, while he 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 absurd situation means that Wale Tinubu’s Oando now owns 49 per cent of NNPC Retail,” he said.
Wale Tinubu’s acquisition of the national oil company was made possible by Nigeria paying him a significant sum, as Atiku said.
According to him, this is evidence of Mr. Tinubu’s illogical business transactions and abuse of office, which has prevented NNPC from becoming a public liability company as required by the Petroleum Industry Act (PIA).
Although the NNPC and its leadership are under legislative investigation, the former vice president acknowledged it and expressed skepticism about the process’ credibility because of the vested interests of those in charge of the investigation.
“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 called him his godfather,” Atiku said.
According to him, Tinubu’s role as Petroleum Minister necessitates him to be held accountable for the problems in the sector.
“I doubt Bamidele will conduct a thorough investigation that might implicate his patron,” he added.
Commenting on the recent revelation that the Lagos-Calabar Coastal Highway project is under litigation, Atiku explained that the Organized Crime and Corruption Reporting Project (OCCRP), a global network of investigative journalists, reported that the coastal highway project has 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.”
In his opinion, this indicates a conflict of interest.
“It is no surprise that the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Coastal Highway, which together will cost over $24 billion, were approved without competitive bidding. It seems that whatever Tinubu wants, he gets,” he said.
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