Osinbajo comfirms Approving $1.78bn NNPC JV Financing Contracts

Laolu Akande, the Senior Special Assistant (Media and Publicity) to Vice President Yemi Osinbajo has announced that the latter, while acting as president, signed contracts worth $1.78bn (about N640bn) on two occasions in July.
Akande made this known in a series of tweets.


There had been controversy after NNPC GMD Maikanti Baru‘s response to Minister of State for Petroleum Resources Ibe Kachikwu‘s memo to President Buhari where Baru said the contracts got presidential approval.

However, Kachikwu had said that Osinbajo, had at around the time referred Baru to the NNPC Board (which Kachikwu heads) after Baru approached him.

Kachikwu said Osinbajo directed him to the board so that the necessary consultations be carried out.

This created insinuations that Osinbajo may not have signed the contracts, fuelling rumours that Buhari had signed them during sick leave.

The VP’s office has come out to debunk the rumours.