Osinbajo Denies Knowledge Of Controversial NNPC Contracts

BREAKING Kachikwu Baru meet discuss potentials in oil sector

The Vice President, Professor Yemi Osinbajo says he granted authorisation to two ventures from the NNPC while President Muhammadu Buhari was away on medical leave.

According to a statement by Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, the Vice President told reporters that approached him Thursday after the ground-breaking multi-billion Naira historic Bonny-Bodo road project, in Bonny, Rivers State, that: "These were financing loans".

But in a series of tweets via his twitter handle, Akande said Osinbajo approved the contracts when he acted as President.

"The NPDC production service contracts have undergone due process, while the AKK contract that requires [Federal Executive Council] FEC approval has not reached the stage of contract award", it added.

"While the President was away, the law actually provides for those authorizations. Action necessary to deal with a huge backlog of unpaid cash calls which Buhari adm. inherited and also to incentivize much needed fresh investments in the oil & gas sector".

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The NNPC had stated in the response that two presidential approvals were granted to the NNPC for contracts with Shell Nigeria and Chevron at the rate of $1 billion and $780 million respectively.

Nigeria's state-owned oil firm on Monday denied awarding any contracts without following due process, dismissing as "baseless" claims by Petroleum Minister Ibe Kachikwu that the agency routinely flouts the law.

Kachikwu in the August 30 memo, said the NNPC boss Maikanti Baru awarded up to $25 billion in oil contracts under different guises without recourse to NNPC board or himself as its chairman.

In a previous report by NAIJ.com, Baru said President Buhari granted approvals for oil deals to the government oil firm during the time he was on his sick bed in London.

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