Wale Tinubu has no interest in OVH Energy acquisition, NNPCL replies Atiku - Newstrends
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Wale Tinubu has no interest in OVH Energy acquisition, NNPCL replies Atiku

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Former Vice President Atiku Abubakar
former Vice President Atiku Abubakar

Wale Tinubu has no interest in OVH Energy acquisition, NNPCL replies Atiku

The Nigeria National Petroleum Company Limited (NNPCL) has said its investment decisions are strictly determined on the basis of commercial viability and national interest.

It spoke in response to former Vice-President, Alhaji Atiku Abubakar, who claimed that cabals linked to President Bola Tinubu had hijacked the national petroleum company.

Atiku, in a statement signed by Paul Ibe, his Media Adviser, said, “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 also 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%

But reacting to Atiku’s comment, NNPCL in a statement by its Chief Corporate Communications Officer, Olufemi Soneye, clarified that the NNPCL is a commercial entity devoid of “political interest.”

“Contrary to the false alarm raised, neither Wale Tinubu nor the President has any interest in the OVH acquisition,” the NNPCL said.

Soneye explained that at the time NNPC Ltd. acquired OVH in 2022, Oando (in which Mr. Wale Tinubu has equity interest), had fully divested its equity in OVH to the other partners – Vitol and Helios.

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Oando actually began its divestment in 2016, with Vitol and Helios coming in as equity partners, leading to the change of name from Oando to OVH. In 2019, Oando fully divested its equity interest in OVH resulting in Vitol and Helios holding 50% equity interests, respectively.

He said, “Upon acquisition of OVH by NNPC Ltd, both NNPC Retail Ltd. and OVH effectively became subsidiaries of NNPC Ltd. However, based on professional advice and sound commercial considerations, NNPC Ltd. opted to merge NNPC Retail Limited into OVH, and thereafter retain NNPC Retail Limited as the company name post-merger.”

He further explained that the first step of merging NNPC Retail Ltd. into OVH has been completed and the post-merger renaming as NNPC Retail Ltd. is ongoing.

The statement added, “We are a commercially-focused and profit-driven company managed by professionals who are committed to adding value to the nation. Investment decisions by NNPC Ltd. Management are strictly determined on the basis of commercial viability and national interest.
“As a businessman, the former Vice President should know that effectiveness in business leadership is best measured by balance sheets and bottom lines rather than pedestrian considerations.”

Soneye stated that the management of NNPC Ltd., under the leadership of Mr. Mele Kyari, “has done very well in growing the company’s fortunes as shown in the 2023 Audited Financial Statement (AFS), where it reported N3.3 trillion as profit after tax.

“NNPC Ltd. as a commercial entity is devoid of political interest and shall continue to conduct its business full of commitment to national interest and value creation for the benefit of all stakeholders. NNPC Ltd. shall resist any attempt to draw its Board and Management into partisan politics.”

Wale Tinubu has no interest in OVH Energy acquisition, NNPCL replies Atiku

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NNPC CEO Ojulari Receives Prestigious Energy Institute Fellowship in London

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NNPC Group Chief Executive Officer Engr. Bashir Bayo Ojulari Receives Prestigious Energy Institute Fellowship
NNPC Group Chief Executive Officer Engr. Bashir Bayo Ojulari Receives Prestigious Energy Institute Fellowship

NNPC CEO Ojulari Receives Prestigious Energy Institute Fellowship in London

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has earned international acclaim as its Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, has been conferred with the Fellowship of the Energy Institute (FEI), United Kingdom — one of the highest honours in the global energy industry.

The Fellowship recognises senior energy leaders who have demonstrated sustained, high-impact contributions to the advancement of the energy sector. It was formally conferred on Ojulari during International Energy Week (IEW) in London, a leading platform for energy policy, finance, and industry leadership. (punchng.com)

The honour was presented by Andy Brown, President of the Energy Institute, who praised Ojulari’s transformative leadership of NNPC Ltd., highlighting his role in strengthening governance, embedding a performance-driven culture, and repositioning the company for long-term value creation.

Under his stewardship, NNPC Ltd. has implemented investor-focused reforms, enhanced operational excellence, and expanded strategic global partnerships, all contributing to increased confidence in Nigeria’s energy sector. The recognition reinforces NNPC’s ongoing transformation into a commercially driven, globally competitive, and transparent energy company.

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Significance for Nigeria and Africa

Experts note that the FEI Fellowship is not only a personal achievement for Ojulari but also a major institutional endorsement of NNPC Ltd.’s reform agenda. Being recognised at International Energy Week, which convenes policymakers, financiers, regulators, and industry leaders, positions the company at the centre of critical global energy discussions on sustainability, energy transition, and capital formation.

The award also signals growing international confidence in NNPC Ltd. and highlights Nigeria’s strategic role in Africa’s energy security and global energy transition ambitions. (vanguardngr.com)

Ojulari’s Leadership Achievements

Since assuming office, Engr. Ojulari has overseen multiple strategic reforms at NNPC Ltd., including:

  • Driving governance and operational reforms to boost accountability.
  • Expanding strategic partnerships and investor-focused initiatives.
  • Enhancing execution efficiency across the company’s subsidiaries.
  • Positioning NNPC Ltd. as a credible, investment-ready energy enterprise.

These efforts have not only improved the company’s profitability and performance but also strengthened Nigeria’s energy security and market competitiveness. (punchng.com)

Ojulari described the Fellowship as a reflection of collective effort within NNPC and reiterated his commitment to sustainable value creation, global best practices, and energy sector innovation.

NNPC CEO Ojulari Receives Prestigious Energy Institute Fellowship in London

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FCT Polls: CSO Situation Room Flags Late Voting, Vote Buying, Logistical Challenges

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CSO Situation Room

FCT Polls: CSO Situation Room Flags Late Voting, Vote Buying, Logistical Challenges

The Nigeria Civil Society Situation Room has raised concerns over multiple irregularities in the ongoing Federal Capital Territory (FCT) Area Council Elections, citing late polling unit openings, reports of vote buying, and logistical challenges that could affect voter participation.

According to the Situation Room, a coalition of over 70 civil society organisations advocating for credible elections in Nigeria, many polling units opened late, with an average start time of 9:15 a.m., well after the official 8:30 a.m. schedule. Observers also noted low voter turnout in several areas, particularly in AMAC, although queues began forming later in Kuje, Kwali, Gwagwalada, and Abaji Area Councils.

Vote Buying Observed

The coalition reported instances of vote buying, with voters allegedly offered up to ₦10,000 in exchange for ballots in units such as PU008, PU056, PU057, and PU058 in Gidan Mangoro Ward, AMAC. While some of the transactions were open, others were conducted discreetly.

The Situation Room warned that such electoral malpractice undermines the integrity of the election and called on electoral officials, political parties, and security agencies to intervene and prevent further incidents.

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Logistical and Accessibility Issues

Observers noted that some voters struggled to locate their polling units after last-minute changes communicated by INEC via text messages. The Bimodal Voter Accreditation System (BVAS) generally performed efficiently, with a one-minute average accreditation time, though malfunctions were reported in a few units including Gwako Town Primary Schools II & IV and PU143, Gwagwalada.

The Situation Room also highlighted accessibility challenges for voters with disabilities, noting that braille ballot guides, magnifying glasses, and other assistive materials were largely absent, even in designated disability communities such as Karimajiji and PU052, Wuse.

Security and Election Conduct

Security personnel, including officers from the Nigeria Police, Civil Defence, Immigration Service, and Fire Service, were present in significant numbers and generally maintained order and professionalism.

Isolated incidents of intimidation and harassment were reported in locations such as Grade 1 Area Court, Rubochi (Kuje); Naharati Sabo School II, Rimba/Ebagi; and PU3, UNG Liman/UNGWAR LIMAN 1, Abaji Central, but security agents swiftly resolved these situations.

Call for Calm and Integrity

The Situation Room commended the INEC FCT Help Desk for promptly addressing reported issues and called on all stakeholders to maintain calm, resist vote buying, and ensure that the will of the people is respected as the polls continue and results are collated.

The report was jointly signed by Mma Odi and Celestine Odo, co-conveners of the coalition.

FCT Polls: CSO Situation Room Flags Late Voting, Vote Buying, Logistical Challenges

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Trump Moves to Indefinitely Suspend Work Permits for Asylum Seekers

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U.S President Donald Trump
U.S President Donald Trump

Trump Moves to Indefinitely Suspend Work Permits for Asylum Seekers

United States President, Donald Trump, has introduced a sweeping immigration proposal that could halt the issuance and renewal of work permits for asylum seekers for many years, marking what analysts describe as one of the most consequential shifts in U.S. asylum employment policy in decades.

The proposed rule, released on Friday by the U.S. Department of Homeland Security (DHS), seeks to suspend new employment authorisation for asylum applicants until the average processing time for designated asylum cases falls to 180 days or fewer.

According to DHS data, the asylum case backlog now exceeds 1.4 million applications, with the department projecting that meeting the 180-day benchmark could take between 14 and 173 years under current conditions—effectively creating an indefinite suspension of asylum work permits.

Despite the bleak projections, DHS said administrative restructuring, staffing increases, and efficiency-focused reforms could eventually reduce processing delays. However, officials acknowledged that significant improvements would take time.

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In a statement accompanying the proposal, DHS said the rule, if finalised, “would reduce incentives for frivolous, fraudulent, or otherwise meritless asylum claims.” The department stressed that work authorisation is not an entitlement, but a discretionary benefit granted by the DHS secretary.

If implemented, the policy would generally bar migrants who entered the United States unlawfully from receiving new work permits or renewing existing ones while their asylum claims remain pending.

Limited exemptions would apply only to individuals who alerted U.S. border officials within 48 hours of arrival that they feared persecution, torture, or faced another urgent humanitarian threat.

The proposal forms part of a broader immigration clampdown under President Trump, who returned to office in 2025 after campaigning on stricter border enforcement and tougher asylum standards.

Throughout his campaign and early months back in office, Trump portrayed immigrants and asylum seekers as economic and security burdens, claims that critics argue are not supported by crime or labour market data.

Immigrant advocacy groups, civil rights organisations, and some Democratic lawmakers have criticised the proposal, warning that denying work permits could push asylum seekers into poverty, increase dependence on charities, and drive people into undocumented employment.

Legal experts also expect significant court challenges, arguing that the rule could weaken long-standing U.S. and international asylum protections and undermine due-process guarantees.

The proposal will undergo a 60-day public comment period once it is formally published in the Federal Register on Monday. The regulatory process could extend for months or even years, with the final outcome uncertain amid anticipated legal battles.

Until then, existing regulations governing asylum seeker work permits in the United States remain in force.

Trump Moves to Indefinitely Suspend Work Permits for Asylum Seekers

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