Osinbajo Admits Approving NNPC Contracts

Yemi Osinbajo, Nigeria’s vice president, has confirmed the Nigerian National Petroleum Corporation claim that he approved some joint venture financing contracts. The NNPC had earlier said it got Osinbajo’s nod, as against the allegation by Minister of (State) Petroleum, Ibe Kachikwu, of non-adherence to due process in contract award.

Laolu Akande, Osinbajo’s Senior Special Assistant on Media and Publicity, confirmed his principal did in a series of tweets on Thursday.

“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 was necessary to deal with huge backlog of unpaid cash calls which Buhari administration inherited and also to incentivise much needed fresh investments in the oil and gas sector,” he said.

 

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