Osinbajo Denies Approving NNPC Contracts; I Approved Loan Says Osinbajo

Vice President Yemi Osinbajo has denied approving the Nigerian National Petroleum Corporation (NNPC) contracts during the period of President Muhammadu Buhari's medical vacation in London.

 According to Daily Trust, Osinbajo's spokesman, Laolu Akande, in a statement Thursday night, October 12, quoted him as clarifying his role in the NNPC contracts in Bonny Island where he flagged off the Bodo-Bonny Road, Rivers state,  where he stated that he only granted approval to NNPC to secure a loan.


Akande said  Osinbajo explained specifically that the approval he granted to the NNPC while acting president were for financing arrangements for the Joint Ventures between the corporation and IOCs, and not approval for contracts.

He quoted the vice president as saying: “These were financing loans, of course, you know what the Joint Ventures are, with the lOCs, like Chevron, that had to procure. In some cases, NNPC and their Joint Venture partners have to secure loans and they need authorization to secure those loans while the president was away.

"The law actually provides for those authorizations. So, I did grant two of them and those were presidential approvals, but they are specifically for financing joint ventures and they are loans not contracts." Akande said he too had on Wednesday, October 11 tweeted on the same matter thus:

 "In response to media inquiries on the NNPC Joint Venture financing arrangements, VP Osinbajo, as Acting President, approved the recommendations after due diligence and adherence to established procedures.

“This was, of course, necessary to deal with huge backlog of unpaid cash calls which the Buhari administration inherited, and to incentivize much needed fresh investments in the oil and gas sector.".
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Are these people saying that Kachikwu does not know the difference between loan and contract. Baru even acknoledge  that they were contracts.

key questions: Who guided Osinbajo in signing off N640B ? like seriously! this people must take us for fools. bunch of confusionist! where was the minister when you authorize such magnitude of loan? what about the National assembly?
what does the NNPC act states? Mr professor of Law that quotes Falana...... Mtchewwww!

VP, Buhari, Baru etc are hiding something.