Osinbajo admits approving NNPC contracts

Osinbajo admits approving NNPC contracts”

But the NNPC dismissed the allegations as "baseless", maintaining that it followed due process in awarding contracts.

The Vice President, Professor Yemi Osinbajo says he granted authorisation to two ventures from the NNPC while President Muhammadu Buhari was away on medical leave.

Kachikwu, had in a leaked letter dated August 30, 2017 and addressed to President Muhammadu Buhari, alleged that Baru awarded contracts to the tune of $25 billion and simultaneously made senior executive appointments without due consultations with the Board of the NNPC as required by law.

While some Nigerians have called for the resignation of the NNPC GMD and probe of the NNPC, others have questioned who signed the contract, as they wonder whether Buhari signed it while in London hospital where he was receiving treatment as at the time the contract was signed.

The post BREAKING: Osinbajo Admits Approving Oil Contracts For NNPC appeared first on Channels Television.

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.

In a series of tweets on Thursday, Laolu Akande, spokesman of the vice-president, said Osinbajo approved the contracts as part of necessary actions to deal with a backlog of unpaid cash calls and incentivise investments.

"In response to media enquiries on NNPC joint venture financing, VP Osinbajo as acting President, approved recommendations after due diligence and adherence to established procedure".

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