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Former Vice President Atiku Abubakar has accused President Bola Tinubu of using his position to embed his family’s business interests within Nigeria’s public enterprises, drawing parallels to his tenure in Lagos State. In a strongly worded statement released by the Atiku Media Office in Abuja, Atiku claimed that Tinubu’s actions could severely compromise Nigeria’s economic future, making it difficult for the nation to extricate itself from his influence even after he leaves office.
Atiku, who was the Peoples Democratic Party (PDP) Presidential candidate in the 2023 election, likened Tinubu’s integration of his business operations into Lagos’s public sectors to similar moves being replicated 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,” Atiku stated.
The former vice president expressed particular concern about the recent operations within the Nigerian National Petroleum Corporation (NNPC), highlighting the government-owned company’s retail arm being placed under the control of OVH, a company in which Oando, led by Wale Tinubu, holds a significant 49% stake. Atiku described this situation as a “criminal hijack” by corporate cabals close to President Tinubu.
“In October 2022, just five months before the elections, the NNPC Retail controversially announced it had acquired OVH and all its filling stations,” Atiku explained. “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.”
Atiku questioned the transparency of the OVH acquisition, noting that the NNPC did not disclose the purchase price or the terms of the deal. A request for information by Premium Times was also rejected by the NNPC, which claimed to be a private company despite its government ownership.
He further criticized the retention of Mele Kyari as NNPC Group Managing Director (GMD) and the appointment of Pius Akinyelure as NNPC Chairman, both of whom he claims are closely allied with Tinubu. “This represents a clear case of illogical business transactions and abuse of office by President Tinubu, who has prevented NNPC from becoming a public liability company as stipulated by the PIA,” Atiku remarked.
While acknowledging the ongoing legislative investigation into NNPC’s operations, Atiku expressed doubt over the credibility of the process, citing the close relationship between the head of the investigation panel, Senator Opeyemi Bamidele, and President Tinubu. “I doubt Bamidele will conduct a thorough investigation that might implicate his patron,” Atiku said.
In addition, Atiku commented on the Lagos-Calabar Coastal Highway project, which has been taken to court following reports by the Organized Crime and Corruption Reporting Project (OCCRP) revealing a close relationship between Tinubu’s son, Seyi, and Gilbert Chagoury, who was awarded the contract without competitive bidding.
