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The absence of the CEO of NNPC Restricted, Mele Kyari, on Monday, stalled the investigation by the committee of the Home of Representatives into the acquisition of OVH Power by the Nigerian Nationwide Petroleum Firm Restricted (NNPCL).
Mr Kyari and the Chief Govt Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (MMDPRA), Farouk Ahmed, had been final week summoned by the committee over the deal.
Messrs Kyari and Ahmed failed to seem in particular person however as a substitute despatched representatives.
Background to NNPC Restricted/Oando’s deal
In October final yr, the NNPCL acquired OVH Power Advertising Restricted’s downstream property so as to add what it stated was over 380 filling stations to its portfolio.
The property acquired from the corporate, which operates Oando filling stations, additionally embody a reception jetty with 240,000 metric tonnes month-to-month capability and eight liquefied petroleum gasoline vegetation, three lube mixing vegetation, three aviation depots, and 12 warehouses.
However in June, PREMIUM TIMES’ investigation on the acquisition uncovered the key offers and the difficult possession construction that left managerial management of NNPC Retail within the fingers of OVH Power Advertising.
READ ALSO: My life at risk in jail, Abba Kyari tells courtroom
The report additionally uncovered how OVH Power Advertising solely had about 94 stations and the way over 100 stations had been leased.
As well as, the report highlighted how Huub Stoksman, an expatriate and former Chief Govt Officer of OVH Power, emerged as the brand new managing director of NNPC Retail, a improvement that additional compounded the construction of NNPC Retail.
In July, the Home, following the adoption of a movement moved by Miriam Onuoha (APC, Imo), directed the NNPCL to droop the OVH acquisition pending an investigation by its committee.
The listening to
Mr Kyari despatched Yemi Adetunji, the manager vice chairman (downstream), to signify him whereas Mr Ahmed additionally despatched Soji Soloye to seem earlier than the committee.
Nonetheless, the lawmakers demanded the appearances of Messrs Kyari and Ahmed after the representatives stated that they had no energy to talk on behalf of their principals.
The Chairman of the Committee, Abubakar Nalaraba, requested the duo in the event that they had been in a position to converse on behalf of their principals, they usually answered “no”.
“Do you might have what it takes to talk for them on this public listening to? Are you able to present us with all the knowledge required? In case you can, then we are going to proceed as a result of we want representatives who can converse on their behalf. Are you able to reply questions on their behalf?” Mr Nalaraba requested.
Following their responses, Mr Nalaraba dominated that the listening to couldn’t proceed simply as he lamented that the panel was delayed.
“The time allotted to conclude and submit this report is 4 weeks. Sadly, we’re far delayed regardless of the extension of the Home recess. We nonetheless really feel the necessity to proceed or to progress with this investigation,” he stated.
Surprisingly, the committee resolved to carry a closed-door assembly with NNPC Restricted reps to reveal the proper time for Messrs Kyari and Ahmed to seem.
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