$25bn NNPC scam: Osinbajo says he signed the contracts

BREAKING Kachikwu Baru meet discuss potentials in oil sector

Kachikwu and Baru met to discuss the future of the country’s petroleum industry

"The approval was given after due diligence and adherence to established procedure", he stated. The sum total of these contracts were to the tune of $25 billion.

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.

Vice President Yemi Osinbajo may have cleared the air over the worrying question about whether President Muhammadu Buhari signed the controversial Nigeria National Petroleum Corporation (NNPC) contracts while on his sick bed in London.

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

The Presidency has responded to inquiries on the operations of the joint venture cash calls in the oil industry, stating that the reversal of the payment model followed due process.

The allegation had generated huge controversies in the polity, moreso that Kachikwu alleged that Baru awarded the contracts without following due process, describing it as a deliberate attempt to undermine his office.

Earlier, Baru had said he did not break any law.

"What is required is the processing and approval of contracts by the NNPC Tenders Board, the President in his executive capacity or as Minister of Petroleum, or the Federal Executive Council (FEC), as the case may be".

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