I Approved Controversial NNPC Contracts – Yemi Osinbajo






I Approved Controversial NNPC Contracts – Yemi Osinbajo

 


      Osinbajo




The deals have pitched the Minister of State for Petroleum, Ibe Kachikwu against the Group Managing Director of NNPC, Makainti Baru.

Kachikwu had in a leaked letter to President Buhari, accused Baru of not following due process in the $25 billion contract awards, to which the NNPC boss responded that he got the approval of the President; who was on medical vacation at some point.

In a series of tweets on Thursday, Osinbajo’s spokesman, Laolu Akande, said it was the Vice-President who in his capacity as Acting President that endorsed the deals.
Akande said his boss acted so in order to offset huge debts to NNPC joint venture financing and to encourage further investments in the nation’s oil sector.

The tweets on Akande’s Twitter handle reads “In response to media inquiries on NNPC joint venture financing, VP Osinbajo, as Ag President approved recommendations after due diligence and adherence to established procedure.

“Action necessary to deal with huge backlog of unpaid cash calls which Buhari administration inherited and also to incentivize much needed fresh investments in the oil & gas sector.”



I Approved Controversial NNPC Contracts – Yemi Osinbajo I Approved Controversial NNPC Contracts – Yemi Osinbajo Reviewed by Emeka Chiaghanam on Thursday, October 12, 2017 Rating: 5

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