BREAKING: Osinbajo Admits Approving N640 billion NNPC Oil Contracts

Posted on October 12, 2017

MICHAEL AKINOLA

Vice President Yemi Osinbajo has taken responsibility for granting authorisation to the Nigerian National Petroleum Corporation, NNPC Group Managing Director, Dr. Maikanti Baru for two oil contracts worth $1.8billion (N640 billion).

A statement by presidential spokesperson, Laolu Akande Thursday stated that Osinbajo approved the contracts in his capacity as acting president in July.

“In response to media inquiries on NNPC joint venture financing, VP Osinbajo, as Ag President approved recommendations after due diligence,” Akande said.

The admission comes a day after online newspaper PREMIUM TIMES amplified a curious part of the NNPC response to the Minister of State for Petroleum, Ibe Kachikwu’s allegations on Monday.

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.

Details soon…

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

BY OLATUNJI OKE In a sector that has not always made space for women,... Continue
The Hon. Minister of Power, Adebayo Adelabu, has affirmed Federal Government’s commitment to gradually offset the debt owed Nigeria’s... Continue
Ms Oluremi Ebun-Phillips The Ikeja Special Offences Court has heard how the Economic and... Continue
President Bola Tinubu has joined the Christian faithful to commemorate Easter, a significant moment... Continue
MICHAEL AKINOLA  A 35-year old man, Tochukwu Onwuemene, has landed in trouble in Lagos... Continue
PIUS BABALEYE The DLK Event Centre on MKO Abiola Road in Abeokuta, Ogun State,... Continue
CHUKA UBAH  The leadership of the Southern Youth Foundation of Nigeria and the Orashi... Continue
BY TUNDE RAHMAN Today is President Bola Tinubu’s 72nd birthday. Instead of rolling out... Continue
MICHAEL AKINOLA      A 35-year old man, Joshua Ogabi, has been arrested and... Continue
“With an estimated reserve of 42 billion barrels of Bitumen and the second largest... Continue

UBA


Access Bank

Twitter

Sponsored