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Osibanjo: I Approved N640 Billion Oil Contract For NNPC

Nigeria’s Vice President, Prof. Yemi Osinbajo on Thursday admitted granting approval to the Nigeria National Petroleum Corporation, NNPC for two oil contracts worth N640 billion while President Muhammadu Buhari was away on medical leave.

Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande disclosed this on his twitter page, @akandeoj, saying 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,” he said in a tweet on Thursday.

Minister of state for Petroleum Resources, Dr. Ibe Kachikwu, had accused the Group Managing Director (GMD) of the NNPC, Dr Maikanti Baru, of awarding contracts without due process, an allegation which was denied by the NNPC.

Meanwhile, Osinbajo arrives Bonny Island for ground-breaking of multi-billion naira historic Bonny-Bodo road that links up the Island on Thursday.

According to Akande, the vice president, after brief tour of NLNG plant, moved to the palace of Amanayabo of Grand Bonny Kingdom King Edward Asimini William, ahead of ground-breaking ceremony.

The Bonny-Bodo road project is part of the unprecedented over N1.2 trillion infrastructure spent by the Buhari administration on projects.

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