The House of Representatives Committee on Petroleum Resources (Downstream) has reopened its investigation into the Nigerian National Petroleum Company Limited’s (NNPC) acquisition of OVH Energy Marketing’s downstream assets and refinery upgrade.
The Committee Chairman, Ikenga Ugochinyere, said the renewed probe follows the House’s rejection of the initial report due to missing critical facts. He called on the public and stakeholders to submit relevant information to support the inquiry.
The investigation will examine the acquisition terms, funds involved, and allegations that former OVH executives formed a new company which later acquired OVH.
“This investigation is essential, not only to address lingering questions and alleged irregularities around the OVH acquisition, but also to enable NNPC Retail’s new leadership to pursue reforms without distraction.
“Resolving these issues is key to restoring public trust and safeguarding ongoing efforts from the shadow of past controversies”.
Ugochinyere also raised concerns over reports that some of those individuals now hold key roles in NNPC Retail, questioning the transparency of the transaction.
He assured that anyone found to have acted improperly, whether through misconduct or oversight failure — will be held accountable, with recommendations made in the national interest.
SOURCE: tv360nigeria.com
