Osinbajo Speaks On Controversial N640bn NNPC Contracts
Vice President Yemi Osinbajo on Thursday moved to douse concerns over the controversial N640 billion contracts by the Nigeria National Petroleum Corporation (NNPC), as he admitted knowledge of the contentious transactions
In a twist of events, Professor Osinbajo admitted approving the Corporation’s contracts when President Muhammadu Buhari was on medical vacation in London, the United Kingdom.
Minister of State for Petroleum Resources, Ibe Kachikwu had accused the NNPC’s Group Managing Director (GMD), Maikanti Baru of awarding contracts without due process.
The allegation was however denied by the Oil Corporation in a statement released by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu in Abuja
However, in a series of tweets on Thursday, Spokesman of the Vice President, Laolu Akande said Professor Osinbajo had approved the contracts as part of necessary actions to deal with a backlog of unpaid cash calls and incentivise investments.
“In response to media inquiries on NNPC joint venture financing, VP Osinbajo, as Ag President approved recommendations after due diligence & adherence to established procedure. Action necessary to deal with huge backlog of unpaid cash calls which Buhari adm. inherited and also to incentivize much needed fresh investments in the oil & gas sector,” he tweeted.
