As the House of Representatives prepares to conclude its annual recess on September 26, 2023, the Ad-hoc Committee tasked with investigating the alleged fraudulent acquisition of OVH by the Nigerian National Petroleum Corporation Limited (NNPCL) is set to present its report to the Green Chamber…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
During an oversight function and facility tour of OVH Energy assets acquired by NNPCL in Lagos, Hon. Hassan Nalaraba, Chairman of the Ad-hoc Committee, expressed confidence that the panel’s report would accurately reflect its findings and recommendations.
The Ad-hoc Committee inspected various assets, including storage facilities at Apapa Terminal 1, Ikeja Aviation Terminal, the Parking Store/Warehouse in Apapa, and the ASPM Jetty at Admiralty Channel, among others.
They also examined a 6 million litre storage for AGO, a 23 million litre storage for PMS and ATK, storage tanks, the former OVH head office, a 17 million litre Lubricant Blending Kettle located within the Lubricant Plant, a jetty, and more.
Dipo Makinde, who guided the lawmakers during the tour, mentioned that NNPC Retail operates a Drum Production Plant in Kaduna State and emphasized the commitment to maximizing returns from the value chain, with the expectation of contributing up to 80 percent of dividends to the Federation Account.
