Osinbajo And Not Buhari Approved N640bn Oil Contracts For NNPC – Presidency
Vice President Yemi Osinbajo has said the N640bn oils contracts aware by the Nigerian National Petroleum Corporation (NNPC) was approved by him and not President Buhari as reported.
An online Newspaper had yesterday stated that the President approved the contracts from his sick bed in London, a claim it said it amplified from the response of the NNPC to the allegations contained in the leaked memo of the Minister of State for Petroleum, Ibe Kachikwu.
But a statement by presidential spokesperson, Laolu Akande, said Mr. 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,” Mr. Akande said.
According to him, “action was necessary to deal with huge backlog of unpaid cash calls which the Buhari administration inherited and also to incentivize much needed fresh investments in the oil & gas sector”