1 month ago
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…To re-investigate NNPC’s acquisition of OVH Energy
By Adesina Wahab
The House of Representatives Committee connected Petroleum Resources (Downstream) connected Friday vowed to extremity the face-off betwixt Dangote Refinery and the Nigerian Union of Petroleum and Natural Gas Workers, NUPENG, saying it could origin instability successful the sector.
Briefing newsmen successful Lagos astatine the extremity of their three-day retreat, the Chairman of the Committee, Hon. Ikenga Ugochinyere, noted that his committee would support a equilibrium betwixt the feuding parties.
“We person received submissions from assorted groups regarding the substance betwixt Dangote Refinery, NUPENG and others. We request to equilibrium labour issues with nationalist economical interests, truthful that investors volition not suffer religion successful the system. The contented has to beryllium good handled due to the fact that we should debar creating instability successful the sector,” helium said.
Also, Ugochinyere said the committee has officially commenced the re-investigation into the NNPC Ltd. acquisition of OVH Energy Marketing’s downstream assets and refinery upgrade, which followed a nonstop bid from the House for the reinvestigation of the substance aft the archetypal study was turned down.
He said the probe is chiseled from the erstwhile enquiry carried retired by the former committee
He recalled that though that committee submitted its report, the House rejected it connected the grounds that immoderate captious facts were not reflected.
He stated that arsenic they person commenced the probe and the wide nationalist are invited to marque their input earlier the lawmakers contiguous their recommendations connected the level of the House. He said those with accusation and submissions should taxable them to the clerk of the downstream committee
He explained that 1 of the large causes of hold was the nonaccomplishment of definite stakeholders to taxable captious documents, but the committee resolved to determination guardant with oregon without those submissions and implicit the duty arsenic mandated by the House.
The lawmaker assured that immoderate individuals recovered to person acted improperly—either done nonstop wrongdoing oregon nonaccomplishment successful oversight—would beryllium identified, and due recommendations would beryllium made successful the champion involvement of the nation.
Ugochinyere said, “the probe is chiseled from the erstwhile enquiry carried out. The House, therefore, mandated the Downstream Committee to undertake a caller investigation—with a wide directive to uncover what genuinely transpired successful the OVH acquisition process.
“This includes examining the funds paid, details of the acquisition agreement, the assets involved, and the circumstances successful which erstwhile OVH managers were reported to person formed a caller institution that aboriginal acquired OVH itself. Shockingly, those aforesaid individuals are besides alleged to person assumed enactment roles wrong NNPC Retail, raising superior concerns astir the integrity and transparency of the full transaction.
“The committee has present begun this re-investigation successful earnest and held a peculiar committee gathering to deliberate connected the matter. One of the cardinal resolutions astatine that gathering was the timely completion of the investigation, which has been agelong overdue. Pressure from retail staff, manufacture stakeholders, and members of the nationalist has mounted, questioning the hold and demanding accountability.
“One of the large causes of hold was the nonaccomplishment of definite stakeholders to taxable captious documents. However, the committee has present resolved to determination guardant with oregon without those submissions and implicit the duty arsenic mandated by the House. As portion of the parliamentary process, the probe indispensable beryllium concluded and a elaborate study submitted to the House for action.
“This probe is critical—not conscionable to code the galore unanswered questions and alleged irregularities surrounding the OVH acquisition—but besides to let the caller enactment astatine NNPC Retail to absorption afloat connected their ongoing reforms without distraction. Laying these matters to remainder is indispensable for restoring nationalist spot and ensuring that the reforms are not undermined by past controversies.
The station House Committee connected Downstream vows to resoluteness Dangote/NUPENG face-off appeared archetypal connected
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