“I Approved NNPC Contracts” – Osinbajo Admits Approving N640 Billion Oil Contracts

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Vice President Yemi Osinbajo has said he approved contracts of the Nigeria National Petroleum Corporation (NNPC) while he was acting President.

Recall, Minister of State for Petroleum, Ibe Kachikwu had written a memo to President Muhammadu Buhari, where he accused Baru of $26bn contract scam.
Kachikwu also accused the NNPC boss of insubordination and sidelining him from important decisions.

Following the leakage of the memo, President Buhari had held a meeting with the Minister at the Presidential Villa.
Baru had also responded to the allegations, stating that no law mandates him to discuss contracts with Kachikwu.
The NNPC later said Vice President Yemi Osinbajo approved the contracts while President Muhammadu Buhari was on medical leave.

Now, the spokesman of the Vice-President, Laolu Akande, has in a series of tweets on Thursday revealed that Osinbajo approved the contracts.

He said this was to deal with a huge backlog of unpaid cash calls and incentivise investments.

“In response to media inquiries on NNPC joint venture financing, VP Osinbajo, as Ag President approved recommendations after due diligence & adherence to established procedure.

Action necessary to deal with huge backlog of unpaid cash calls which Buhari adm. inherited and also to incentivize much needed fresh investments in the oil & gas sector,” he tweeted.

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