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. The Chairman of the ad hoc Committee, Hassan Nalaraba, made this announcement following the oversight function and facility tour of the OVH Energy assets that were acquired by NNPC in Lagos State.
Mr. Nalaraba has assured Nigerians that the committee’s report will accurately reflect its findings and recommendations. During their inspection, the committee examined various assets, including storage facilities located at Apapa Terminal 1, Ikeja Aviation Terminal, and the Parking Store/Warehouse in Apapa. They also visited the ASPM Jetty at Admiralty Channel and other locations.
Among the assets observed by the committee are storage tanks with a capacity of 6 million litres for AGO, 23 million litres for PMS, ATK, among others. Additionally, they visited the former OVH head office, a 17 million litre Lubricant Blending Kettle within the lubricant Plant, and the Jetty.
The committee learned from their guide, Dipo Makinde, that NNPC retail operates a Drum Production Plant in Kaduna State. Mr. Makinde further reiterated their commitment to maximizing the value chain and increasing dividends to the Federation Account by up to 80 percent.
Furthermore, Mr. Makinde assured the committee that NNPC retail is gradually phasing out the use of the Oando brand. He also provided reassurance that all necessary measures have been put in place to ensure the safety of the equipment within the plants.
The report, which is expected to shed light on the alleged fraudulent acquisition and present recommendations for further actions, holds significant importance for the Nigerian people. The House of Representatives has demonstrated its dedication to uncovering the truth and holding accountable those involved in fraudulent practices within the energy sector.
NAN
