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Reps investigating OVH Energy acquisition – Ugochinyere

today02/05/2024

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The House of Representatives says is investigating the acquisition of OVH Energy Marketing by the Nigerian National Petroleum Corporation Limited, NNPCL.
Chairman of the House of Reps Committee on Downstream, Petroleum, Ikenga Ugochinyere disclosed this to Newsmen on Monday.
NNPCL had announced in October 2022 that it had acquired OVH Energy Marketing, owner and operator of the Oando downstream assets.
However, a rights group, Nigeria Transparency Council, NTC, approached the Green Chamber of the National Assembly with a petition seeking a thorough probe of the acquisition process.
He urged the lawmakers to convene a powerful meeting of their committee to look into the acquisition agreement, assets said to have been bought.
Ugochinyere further urged the committee to investigate all products given to NNPCL retail and OVH and where the payments and revenue went to and investigate the legal business relationship between both entities

Written by: bossgmsi

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