₦airaland Forum

Saao:
if I were you just keep quiet. Minister of petroleum controlled nnpc, his office is in nnpc towers Abuja, the current minister of petroleum is Tinubu. Did you read the other details before u talked of renaming? Tinubu used court and nnpc to transfer the ownership to OVH and legally effect same changes in cac, same method in lagos.

If DSS comes to get you now and changed you for acts capable of breaching public peace and criminal defamation,you will start crying.

Is it that comprehension is so difficult despite being in basic English even the media house that brought the false news that tinubu and oando has bought NNPC retail has already retracted and set the records straight but you are still running about like a headless chicken with your false narrative.

Lithiumite:
If DSS comes to get you now and changed you for acts capable of breaching public peace and criminal defamation,you will start crying.

Is it that comprehension is so difficult despite being in basic English even the media house that brought the false news that tinubu and oando has bought NNPC retail has already retracted and set the records straight but you are still running about like a headless chicken with your false narrative.

look at this one. DSS are now spirits? I'm not a coward like you guys and can't be threatened like you guys. Using the instrument of the state against the truth is the act of cowardice. Same instrument of the state were used to acquiring state assets.

Saao:
look at this one. DSS are now spirits? I'm not a coward like you guys and can't be threatened like you guys. Using the instrument of the state against the truth is the act of cowardice. Same instrument of the state were used to acquiring state assets.

Can you pls kindly highlight the truth in your post?

gaby:
It looks all set to take have them use our commonwealth to attempt to revive any of the moribund refineries for themselves and also to strangulate the Dangote Refinery. Or better still, continue to subsidize OVH disguising as NNPC limited's petroleum imports from our commonwealth to sell at a price Dangote can't compete with.

Of what use are the moribund refineries over these years

Gulping millions of dollars in nonsense turnaround maintenance..

If these move, albeit "a common wealth entering private pocket " will get them functional and make refined products available locally....They should do it.
Afterall, all the maintenance money have been entering private pockets without results

FreeStuffsNG:
The renaming took effect from 2 September 2024 and a certificate signed by Hussaini Magaji, a Senior Advocate of Nigeria (SAN) and the Registrar General of the Corporate Affairs Commission has been issued to that effect.
I thought the criminal defamers and unpatriotic elements were lying before that Wale Tinubu has bought over NNPC Retail? Smh.

Finally, the truth is now being forced out by force after Oando Plc threatened to compile the list of alleged criminal defamers/media platforms and commence litigation against all those peddling criminal defamation against their organization for political mischief and because President Bola Tinubu defeated their mediocre principals during the last Presidential election.

This is why it's good to set the records straight. Oando Plc is not even owned by Wale Tinubu but by every Dick, Tom and Harry Nigerian and foreigner owning its shares traded on both Nigerian Stock Exchange and the Johannesburg Stock Exchange.

NNPC merged all the companies into OVH and now renamed it as NNPC Retail Limited. This business decision has nothing to do with Oando Plc that had since divested from OVH since 2019 and all the information were in the public domain. Premium Times fall our hand too.

May God bless Nigeria for ever! Check my signature for free stuffs!

The damaged has been done.
Most Tinubu enemies now carried the fake info for head like gala

haybhi1:
Nigerians and their love for negative news, lies and propaganda. Did they not say Oando is owned by Tinubu and his brother? Balderdash.

Same way a thread made the NL frontage yesterday about how Medical students pay to pass. Bro, I was completely gobsmacked and wanted to write a post to counter the post will all evidence and points about how the medical school is structured, especially from the POV of a school like Unilorin POV–where it's completely impossible for you to pay your way out.

I was like bro, no amount of connection(know all current and past leaders of Nigeria and the world) or money can solely make you scale through (Unilorin) Medical school. How people who haven't seen the walls of a medical school were endorsing the post, I was shocked. I just tired out and mulled it's not worth my energy.

I just blamed NL and its mods. Nl research or anything, someone just wrote a post and termed it what he saw and NL made the public to swallow it immediately! What's the evidence it's the truth and he didn't make it up due to some beef? Such complete disregard for ethics.

If nairaland.com is a reasonable site,that medical school thread shouldn't reach front page.No investigation! No report to back it up! NO study was conducted! No link!..somebody just wrote his personal opinion in a very scanty and stupid manner and gbam,its in the front page .
@seun , Nairaland is aiding FAKE NEWS and STUPIDITY

Academia2:
please guys please don't just scroll pass. please I beg you in the name of almighty GOD pls someone should please help me, my little sister and I we are starving. Please help us the last time we ate a good food was from our neighbor on Tuesday early this week. Since then we have surviving on drinking garri since on Wednesday and the garri we use to have hope has finished. the little money I have I used it to pay for house rent so that we can at least have roof over our head. am pleading for help please, not for my sake but for kid sis please am a primary school teacher, our mom is late and my dad has retired. No matter how little it will go a long way to help us. May GOD in heaven come to your aid as you have come to ours. Amen

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Opay M.A

did you join nairaland on September 1st specifically to beg or what exactly?

Have you tried going to sites to work?

DeLaRue:
Nigerian media eh.

So Premium Times rushed out last month to report what it has now confirmed to be untrue.

Instead of admitting and apologising for its error, it is now claiming it just found out the correct position of things.

So why did you rush to report what you did not understand or ascertain.

Very unprofessional.

what do you mean by rushed to report . did you read it

Spy360:
Now that you lots have said Tinubu doesn't own OVH, stick to your words. All these abracadabra merger and renaming upandan let it not be that tomorrow Tinubu will appear from no where to claim ownership of NNPC.

Are you talking to those who have disowned Buhari's policies after painting Nairaland frontpage with his every breath for 8 years back-to-back and defending even the most stupid of policies?

Just leave these prostitutes abeg.

Saao:
if I were you just keep quiet. Minister of petroleum controlled nnpc, his office is in nnpc towers Abuja, the current minister of petroleum is Tinubu. Did you read the other details before u talked of renaming? Tinubu used court and nnpc to transfer the ownership to OVH and legally effect same changes in cac, same method in lagos.

Very correct you read the article very well Tinubu own NNPCL

hafeeanubasy:
@seun , Nairaland is aiding FAKE NEWS and STUPIDITY

Where are your counter threads? If the person you quoted felt it's not worth their energy and you're too lazy to do the same, then leave the floor to those who are willing too and stop crying under another thread.

Looking back now, I think Atiku had the best laid out plan for Nigeria
Obi would have been good also but same forces that frustrated Jonathan would have distracted his government

Half baked journalism.

The public would like to know the majority shareholders and directors of the new company plus that of any parent or holding Company,if applicable.


Simplicita!

FreeStuffsNG:
OVH renamed NNPC Retail Limited

The rename was done via a special resolution dated 11 June 2024 by the board of the company.



https://www.premiumtimesng.com/news/top-news/733824-ovh-renamed-nnpc-retail-limited.html

It is sheer ignorance of the people, crooked politics by politicians, ethnic bigotry, biased misleading reportage by jaundiced media, lack of desire to learn by the masses, and permit me to say, their willingness to swallow every foolish story, that are responsible for the terrible situation of Nigeria.

It is only people who do not have any basic understanding of corporate governance, and merger and acquisition of companies that would believe the false story that OVH had acquired NNPC Retail!
The transaction between OVH and NNPC Retail Ltd. could not have been an acquisition because there was no exchange of any instrument of consideration like payment of cash, issuance of shares or deferred.
consideration between the two entities.
The transaction was a merger and these are the background info that guided the steps taken by NNPC NNP(Group) Limited in merging NNPC Retail Ltd into OVH, and then renaming OVH as NNPC Retail:

1. Oando was established through the acquisition of Unipetrol filling stations, and later AGIP filling stations in the early 2000s. Unipetrol and AGIP had been operating in Nigeria for decades before year 2000.
2. OVH was marketing Oando products (in former Unipetrol and AGIP) filling stations. i.e. in a total of about 500 locations.
3. Oando divested fully from OVH in 2019, but Vitol(V) and Helios(H) continued to use the brand name ''OVH'' in all the 500 locations.
4. Meanwhile, NNPC established some filling stations (under NNPC Retail Ltd) a few years ago. These filling stations were much fewer (and younger) than the Oando/OVH filling stations. I think the NNPC had roughly about 100 filling stations before they acquired OVH
5. As a result of the above history, it is just common sense to realize that OVH would have a lot more of administrative records, transactions, asset locations, customers, buildings, accounting books and tax records etc. which it inherited from Oando, than NNPC Retail would have.
6. During a process of merger between the 2 entities, the better option is to merge (i.e. transfer) the fewer records from NNPC Retail into the bigger and more complex OVH in order to save time, cost and resources.
Let us assume or imagine that every filling station has 100 records, transactions, files etc. of their customers, employees, buildings etc.
6. So, for illustration, OVH would have like 50,000 records and NNPC Retail 10,000. It therefore makes better administrative and economic sense to first merge the smaller entity (NNPC Retail) into the bigger entity (OVH), then go back and effect any name change (NNPC Retail) that you desire after the merger. It is cheaper to move (integrate) the smaller entity into the bigger entity than to move (integrate) the bigger into the smaller entity.

This is the professional and rational approach to adopt, and that is what the NNPC(Group) Limited has done.
But ignorance, political and ethnic bigotry would not allow some people to educate themselves and learn.
Once they hear ''OVH merges with NNPC Retail'', they go to town shouting.

Now, NNPC has changed the name of the combined (merged) entity to NNPC Retail Ltd, and it is still a full 100% subsidiary of NNPC Group Limited.

My advice to Nigerians; Always scrutinize whatever you hear from politicians before you believe them hook, line nd sinker.

NB:
I am not a fan of Tinubu. He and his govt are total failures and a disaster as far as I am concerned.
But the NNPC Retail - OVH deal is purely about principles of corporate governance, and merger and acquisition

FreeStuffsNG:
The renaming took effect from 2 September 2024 and a certificate signed by Hussaini Magaji, a Senior Advocate of Nigeria (SAN) and the Registrar General of the Corporate Affairs Commission has been issued to that effect.
I thought the criminal defamers and unpatriotic elements were lying before that Wale Tinubu has bought over NNPC Retail? Smh.

Finally, the truth is now being forced out by force after Oando Plc threatened to compile the list of alleged criminal defamers/media platforms and commence litigation against all those peddling criminal defamation against their organization for political mischief and because President Bola Tinubu defeated their mediocre principals during the last Presidential election.

This is why it's good to set the records straight. Oando Plc is not even owned by Wale Tinubu but by every Dick, Tom and Harry Nigerian and foreigner owning its shares traded on both Nigerian Stock Exchange and the Johannesburg Stock Exchange.

NNPC merged all the companies into OVH and now renamed it as NNPC Retail Limited. This business decision has nothing to do with Oando Plc that had since divested from OVH since 2019 and all the information were in the public domain. Premium Times fall our hand too.

May God bless Nigeria for ever! Check my signature for free stuffs!

I recall one idiot claimed that Seyi Tinubu, son of the president bought the company.

Now the truth is out here and I hope they would desist from spreading fake news out of mischief or ignorance.

Saao:
look at this one. DSS are now spirits? I'm not a coward like you guys and can't be threatened like you guys. Using the instrument of the state against the truth is the act of cowardice. Same instrument of the state were used to acquiring state assets.

Nnamdi Kanu too once said he was not afraid of DSS. But today, he's pleading that he would be a good ambassador and stop killing in the East.

Of all the oil companies in Nigeria, it had to be the one linked to the presidency that's purchasing nnpc retail. Guess conflict of interest is a joke in Nigeria.

Tareq1105:
Nnamdi Kanu too once said he was not afraid of DSS. But today, he's pleading that he would be a good ambassador and stop killing in the East.

I don't know him and we didn't share same idea. One thing I discovered here with some of you with limited thinking is that, you believed anyone against tinubu is an Igbo. Nigeria is bigger than Igbo and yorubas and my advice for you guys is to increase the size of your thinking faculty

Exousiang01:
Na air just dey inside your skull, no brain
Just air,and your case is no different from the average obidient, na so una just dey.
Zero knowledge loudest voices

..

Waste of flesh and grey matter.

Posterity and karma will take care of you and your entire lineage in due course.

Useless things.

gaby:
It looks all set to take have them use our commonwealth to attempt to revive any of the moribund refineries for themselves and also to strangulate the Dangote Refinery. Or better still, continue to subsidize OVH disguising as NNPC limited's petroleum imports from our commonwealth to sell at a price Dangote can't compete with.

Exhibiting Ignorance as usual.

gaby:
..

Waste of flesh and grey matter.

Posterity and karma will take care of you and your entire lineage in due course.

Useless things.

The same fate that you are presently going through abi?

gaby:
It looks all set to take have them use our commonwealth to attempt to revive any of the moribund refineries for themselves and also to strangulate the Dangote Refinery. Or better still, continue to subsidize OVH disguising as NNPC limited's petroleum imports from our commonwealth to sell at a price Dangote can't compete with.

Nice to read you, Gaby, after long spell.

I key into your thoughts and vision.

Very sad indeed that Nigeria is being raped and plundered by a few opportunitic few.

Oh, Nigeria my country!

FreeStuffsNG:
The renaming took effect from 2 September 2024 and a certificate signed by Hussaini Magaji, a Senior Advocate of Nigeria (SAN) and the Registrar General of the Corporate Affairs Commission has been issued to that effect.
I thought the criminal defamers and unpatriotic elements were lying before that Wale Tinubu has bought over NNPC Retail? Smh.

Finally, the truth is now being forced out by force after Oando Plc threatened to compile the list of alleged criminal defamers/media platforms and commence litigation against all those peddling criminal defamation against their organization for political mischief and because President Bola Tinubu defeated their mediocre principals during the last Presidential election.

This is why it's good to set the records straight. Oando Plc is not even owned by Wale Tinubu but by every Dick, Tom and Harry Nigerian and foreigner owning its shares traded on both Nigerian Stock Exchange and the Johannesburg Stock Exchange.

NNPC merged all the companies into OVH and now renamed it as NNPC Retail Limited. This business decision has nothing to do with Oando Plc that had since divested from OVH since 2019 and all the information were in the public domain. Premium Times fall our hand too.

May God bless Nigeria for ever! Check my signature for free stuffs!

You mean all the years you wasted in school you don't know the meaning of "rename" or is it tribalism or political affiliation suddenly made you forget that word ever existed?

The retail mandate of NNPC is now ovetshadowing and relegating its coreits core business..... No wonder NNPC is defrauding us all......

gaby:
..

Waste of flesh and grey matter.

Posterity and karma will take care of you and your entire lineage in due course.

Useless things.

Be insulting people instead taking advice and learning to reason logically like a human being should.
This animalistic method of seeing life wont help you…..

PS: my family was already made long before I was born, Your poverty is your reality not the reality of every other person.
So praying that I will join you in poverty really wont work, I can bet you for free that my unborn grand children already have better future that you have currently

Exousiang01:
Be insulting people instead taking advice and learning to reason logically like a human being should.
This animalistic method of seeing life wont help you…..

PS: my family was already made long before I was born, Your poverty is your reality not the reality of every other person.
So praying that I will join you in poverty really wont work, I can bet you for free that my unborn grand children already have better future that you have currently

Lol

What a bleating goat...

Always Delusional in their numbers as expected...

Asswipes...

DesChyko:
So.. NNPC retail no longer exists right, as it was bought out by OVH. Now that OVH has rebranded to an entity that doesn't exist anymore, is that not a parasitic move by a private entity latching unto government purse?

To think someone up there even sees this as a great news. Very weird.

Thats how they used mago mago privatisation to buy AP and turned it into Oando