Loyalty Reward: APC Chieftain, Akinjide Kazeem Akinola Lobbies Presidency To Hijack Multi-Million Naira Contracts

Secrets Reporters

A retired Army Captain and Ibadan-born politician, Akinjide Kazeem Akinola, appears to be at the center of a growing trend of misuse of political influence to secure federal contracts. Akinjide, who owns Triple Two Oil And Gas Ltd, has been seen to be cornering government contracts in violation of due process, raising questions about transparency and fairness in the federal contracting system.

Akinjide Kazeem Akinola rejoined the All Progressive Congress (APC) in 2023, following the return of Power Minister Adebayo Adelabu to the party. His return followed months of internal disputes that sidelined many aspirants during the 2023 elections. Akinjide had sought to represent the Egbeda/Ona-Ara federal constituency previously but was unsuccessful at getting the ticket.

Akinjide’s dealings have come under scrutiny. Triple Two Oil And Gas Ltd, his privately-owned company, has been awarded multiple federal contracts, in what is perceived as political crony compensation, bypassing competitive bidding procedures even as his company is ineligible for the contracts.

Further complicating the picture is the company’s apparent non-compliance with tax obligations. Triple Two Oil And Gas Ltd is reportedly evading taxes, a criminal offense under Nigerian law. The Federal Inland Revenue Service (Establishment) Act, 2007, explicitly prohibits tax evasion and prescribes severe penalties for offenders, including fines, imprisonment, or both. Under Section 40 of the Act, any person who willfully evades tax is guilty of an offense and, upon conviction, may face imprisonment for up to five years, depending on the severity of the evasion. Tax evasion not only constitutes a serious legal and ethical breach but also undermines Nigeria’s financial system, which relies heavily on tax revenues.

The Office of the Special Adviser to the President on Niger Delta, led by Dr. Dennis Otuaro, is allegedly in cahoots with Akinjide. The alleged partnership with Dr. Otuaro, who also serves as the Coordinator of the Presidential Amnesty Programme (PAP), has reportedly enabled the diversion of public funds to Akinjide’s company, because if not true, why would a company evading tax be awarded contracts? Contracts that should have undergone a transparent and competitive bidding process are allegedly awarded directly to Triple Two Oil And Gas Ltd, sidelining more qualified companies and undermining due process.

The transaction details between Akinjide and the Office of the Special Adviser to the President on Niger Delta showed that on June 26, 2024, Triple Two Oil And Gas Ltd received a payment of ₦16,875,000 for the supply of diesel to the Buzi and Nile PAP offices for May 2024. This was followed by another payment on July 16, 2024, amounting to ₦20,250,000 for the supply of 15,000 liters of diesel to Buzi, Nile, and the official residence of the administrator for June 2024. Subsequently, on August 2, 2024, Triple Two Oil And Gas Ltd received a payment of ₦18,697,500 for the supply of 1,350 liters of diesel for July 2024.

Triple Two Oil And Gas Ltd, incorporated in Kaduna, Nigeria, on March 24, 2016, with Registration Number 1324547, operates as a private company limited by shares. The company’s registered office is located at No. C5, Chukwun Street, Trikania, Kaduna. Despite being in existence for over eight years, its current tax status in inactive raising eyebrow over its involvement in multiple high-value federal contracts.

A closer look at the company’s management reveals that Akinjide Kazeem Akinola serves as both a director and a shareholder, alongside Abdulkadir Olalekan Akinola. Akinjide also holds the roles of secretary and shareholder, suggesting a high level of control over the company’s operations.

The confluence of political ties, alleged contract manipulation, and tax evasion casts a shadow over Akinjide Kazeem Akinola and Triple Two Oil And Gas Ltd. While Akinjide’s political maneuvering within the APC may have secured him lucrative opportunities, the methods employed to obtain these contracts, along with his company’s questionable tax practices, raise serious concerns about governance, accountability, and the equitable distribution of government resources.