OVH: Reps panel begins fresh probe of NNPCL over acquisition deal 

From Ndubuisi Orji, Abuja

The House of Representatives Committee on Petroleum Resources (Downstream) has commenced a fresh investigation into the acquisition of OVH Energy Marketing’s downstream assets by the Nigerian National Petroleum Company Limited ( NNPCL).

The fresh probe is based on the resolution of the House, that the panel re-investigate the issue, after its first report was turned down .

The chairman of the Committee, Ikeagwuonu Ugochinyere, explained that said  though the panel submitted its report on the initial probe, the House rejected it on the ground that some critical facts were not reflected.

The lawmaker, who noted that the fresh probe was delayed because of the failure of some stakeholders to avail the committee of critical documents, called on members of the public to make their submissions to the committee on the subject matter.

Ugochinyere noted that ,  “the investigation is distinct from the previous inquiry carried out. The House, therefore, mandated the Downstream Committee to undertake a fresh investigation—with a clear directive to uncover what truly transpired in the OVH acquisition process.

“This includes 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. Shockingly, those same individuals are also alleged to have assumed leadership roles within NNPC Retail, raising serious concerns about the integrity and transparency of the entire transaction.

“The committee has now begun this re-investigation in earnest and held a special committee meeting to deliberate on the matter. 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.”

He explained that “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.”