NNPC CEO Mele Kyari denies relocation plans, addresses OVH energy acquisition allegations

In a recent development, Mele Kyari, the Group Chief Executive Officer of the Nigeria National Petroleum Company (NNPC) Ltd, categorically denied any plans of relocating the NNPC headquarters from Abuja to Lagos State.

Kyari made this clear during a crucial appearance before an ad hoc committee of the House of Representative.

The committee had convened to investigate allegations of corrupt acquisition surrounding OVH Energy by NNPC.

Kyari provided comprehensive insights into the acquisition of OVH Energy, emphasising that all necessary procedures and legal requirements were diligently followed.

This acquisition has significantly bolstered NNPC’s presence in the downstream sector, granting the corporation more than 30 percent control.

Additionally, the NNPC reported a remarkable profit of N18.4 billion in the first quarter of 2023 alone, underscoring the soundness of the OVH Energy transaction.

The NNPC CEO’s statement comes as a robust response to rumors and speculation regarding the alleged relocation of the NNPC headquarters, affirming the corporation’s commitment to maintaining its presence in Abuja.

Kyari’s detailed account of the OVH Energy acquisition reassures stakeholders and the public of NNPC’s commitment to transparency and adherence to due process.

As the House of Representatives’ ad hoc committee continues its investigation, Mr. Kyari’s testimony provides crucial insights into NNPC’s operations and its pursuit of strategic acquisitions in the energy sector.

The corporation remains under the spotlight, and this development marks a pivotal moment in the ongoing discourse surrounding the NNPC’s activities.