Reps c’ttee to present report on OVH Energy acquisition


File Photo: House of Representatives

By Femi Ogunshola

The House of Representatives ad hoc committee investigating the alleged fraudulent acquisition of OVH Energy by the Nigerian National Petroleum Corporation (NNPC) Ltd. is set to present its report to the House.

This is contained in a statement issued by the Chairman of the Ad hoc Committee, Rep. Hassan Nalaraba, who spoke after the oversight function and facility tour of OVH Energy assets acquired by NNPCL in Lagos State.

Nalaraba assured Nigerians that the committee’s report would reflect its findings and recommendations.

Some of the assets inspected by the committee, according to him, include: Storage facilities located at Apapa Terminal 1, Ikeja Aviation Terminal, a parking store or warehouse located in Apapa,

Others are the ASPM Jetty at Admiralty Channel, among others.

He said some of the assets seen by the committee are: 6 million litres for AGO, 23 million litres of storage for PMS, and ATK, among others

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He also listed storage tanks, the former OVH head office, and a 17 million-liter lubricant blending kettle located within the lubricant plant, Jetty, among others.

He said Mr. Dipo Makinde, who conducted members around the facilities, informed them that NNPC Retail had a drum production plant in Kaduna State.

He reiterated the resolve towards gaining more from the value chain, with the expectation of growing dividends up to 80 percent that would go into the Federation Account.

He said Makinde assured members of the committee that NNPC Retail is gradually drawing down on the usage of the Oando brand.

He said Makinde also assured the committee that necessary measures had been put in place to ensure the safety of all the equipment within the plants.


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