•House of Representatives
The House of Representatives Committee on Petroleum Resources (Downstream) has relaunched the probe into the NNPCL acquisition of OVH Energy Marketing’s downstream assets and refinery upgrade.
The Chairman of the Committee, Mr. Ikenga Imo Ugochinyere, today explained that the measure was necessitated by the rejection of the initial report on the issue by the House of Representatives, reports The Guardian.
The Imo born lawmaker noted that the absence of “critical facts” informed the decision by the House to reject the initial report, just as he called on the general public and stakeholders to come forth with their submissions on the matter.
The lawmaker assured that any individuals found to have acted improperly —either through direct wrongdoing or failure in oversight — will be identified, and appropriate recommendations will be made in the best interest of the nation.
Ugochinyere disclosed that the probe entails examining the funds paid, details of the acquisition agreement, the assets involved, and the circumstances in which former OVH managers were reported to have formed a new company that later acquired OVH itself.
The lawmaker expressed concern that some of the individuals involved in the issue have assumed leadership roles within NNPC Retail, raising serious concerns about the integrity and transparency of the entire transaction.
He assured that his committee has begun the re-investigation in earnest and held a special committee meeting to deliberate on the matter.
He added: “One of the key resolutions at that meeting was the timely completion of the investigation, which has been long overdue. Pressure from retail staff, industry stakeholders, and members of the public has mounted, questioning the delay and demanding accountability.
“One of the major causes of delay was the failure of certain stakeholders to submit vital documents. However, the committee has now resolved to move forward with or without those submissions and complete the assignment as mandated by the House. As part of the parliamentary process, the investigation must be concluded and a detailed report submitted to the House for action.
“This investigation is critical — not just to address the numerous unanswered questions and alleged irregularities surrounding the OVH acquisition — but also to allow the new leadership at NNPC Retail to focus fully on their ongoing reforms without distraction. Laying these matters to rest is essential for restoring public trust and ensuring that the reforms are not undermined by past controversies.”
