Nigeria’s Oil and Gas Sector Under Fire: Atiku Accuses Government of Favoritism
Former Vice President of Nigeria, Atiku Abubakar, has called on the Nigerian government to explain why Oando Plc, owned by President Bola Tinubu’s nephew, received accelerated approval to buy the onshore assets of AGIP and ENI, while other transactions in the oil and gas sector continue to face delays.
Atiku, the 2023 Presidential candidate of the Peoples Democratic Party (PDP), accused the government of giving Oando undue preferential treatment, to the detriment of more competent investors. He also slammed the Tinubu administration for implementing a sham subsidy regime and the House of Representatives for failing to take proper action on the Nigerian National Petroleum Company Limited (NNPCL).
According to Atiku, the Nigerian Upstream Production Regulatory Commission (NUPRC) approved the divestment of ENI/AGIP onshore assets to Oando within just eight months, while Nigeria withdrew all litigation against Shell/ENI in the OPL 245 scandal, a move described as a quid pro quo.
Atiku questioned the fairness of the situation, saying, “Ideally, democracy ought to be the government of the people, for the people, and by the people. But democracy in Nigeria has become the government of Tinubu, by Tinubu, and for Tinubu and his family members.”
He also criticized the House of Representatives for failing to take action on the NNPCL, which he said had gone ahead to “mortgage the country’s national oil assets to vested interests.” Atiku pointed out that the House had directed the NNPCL to suspend the acquisition of OVH assets pending an investigation, but the company ignored the directive and transferred its ownership and properties to OVH, mortgaging the future of Nigerians.
Atiku’s comments have sparked controversy in Nigeria, with many calling for greater transparency and accountability in the country’s oil and gas sector. The situation has also raised questions about the role of politics in the sector and the potential impact on the country’s economy.
