Osinbanjo Shun NNPC GMD On $25bn Contract Scam

Vice-President Yemi Osinbajo on Thursday clarified that what he approved for the Nigerian National Petroleum Corporation when President Muhammadu Buhari was away on medical vacation were financing loans and not contracts.
According to a statement by his Senior Special Assistant on Media and Publicity, Mr. Laolu Akande, the Vice-President made the clarification while answering reporters’ questions after the groundbreaking ceremony of the multi-billion naira Bonny-Bodo Road project, in Bonny, Rivers State.
Akande quoted Osinbajo as explaining that the approvals he granted to the NNPC while he was Acting President were for financing arrangements for the Joint Ventures between the corporation and the IOCs, and not approvals for contracts.
“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 authorisation to secure those loans while the President was away.
“The law actually provides for those authorisations. 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 quoted the Vice-President as saying.
Osinbajo’s spokesman recalled that he had earlier in the day gave a similar explanation on his Twitter handle, @akandeoj.
Akande had tweeted, “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 incentivise much-needed fresh investments in the oil and gas sector.”
Meanwhile, the Pan Niger Delta Forum on Thursday called on President Buhari to urgently appoint a substantive Minister of Petroleum Resources to effectively run the activities of oil and gas industry in the country.
PANDEF also came hard on the Group Managing Director, NNPC, Maikanti Baru, saying that narrative available clearly showed that he flouted the relevant provisions of the constitution in the alleged $25bn contracts he awarded without recourse to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu.
In a statement signed by the Coordinating Secretary of the group, Dr. Alfred Mulade, PANDEF, which is the umbrella body for the Niger Delta leaders from the various ethnic nationalities, expressed sadness with the manner the Presidency was handling the issues.
It also condemned the manner by which Kachikwu was allegedly sidelined despite being the chairman of the NNPC board in the awards of contracts and appointments, adding that such disdain was an insult on the people of the Niger Delta region from where the nation’s oil and gas are produced.
PANDEF, which is under the leadership of Chief Edwin Clark, demanded that the $25bn contracts and procurements made by the NNPC should be revoked and re-awarded after undergoing a thorough process of checks and balances.
The statement added, “The recent appointments and promotions done by the GMD should be revoked and fresh appointments and promotions should be done in accordance with the provisions of the constitution and in line with Federal Character Principles.
“This we intend to challenge at the court of law. It should be made more competitive and transparent with appropriate checks and balances and if the President must accept them, Nigerians want to know the actual values of such contracts as the name of those who bid and won the contract,” the statement further added.

212 Comments on “Osinbanjo Shun NNPC GMD On $25bn Contract Scam”

  1. “Hey there are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and create my own. Do you require any html coding expertise to make your own blog? Any help would be greatly appreciated!”

  2. “I like the valuable info you supply on your articles. I will bookmark your weblog and test again here regularly. I am relatively certain I will be informed many new stuff proper here! Good luck for the next!”

  3. Hi, Neat post. There’s an issue along with your website in internet
    explorer, may test this? IE nonetheless is the marketplace
    leader and a good component to other people will omit
    your great writing due to this problem.

  4. For the promotion of products and services internet marketing is starting to become an ever more important medium. SEM services includes optimization of one’s site, submission of your respective site to directories, indexing your site by search engines like yahoo, managing the pay-per-click campaigns, writing and distribution of optimized press announcements and articles, using blogs and RSS feeds, marketing by using an affiliated program, getting visitors through social support systems and much more as follows. http://home.daoba.com/home.php?mod=space&uid=522428&do=profile&from=space

  5. Hello there I am so delighted I found your webpage,
    I really found you by accident, while I was researching on Google
    for something else, Anyhow I am here now and would just like to say cheers for
    a fantastic post and a all round enjoyable blog (I also love the theme/design),
    I don’t have time to read through it all at the moment but
    I have saved it and also added in your RSS feeds,
    so when I have time I will be back to read more, Please do keep up the awesome b.

  6. Pingback: Adidas Yeezy 500
  7. Pingback: Nike Air Zoom
  8. Pingback: Salomon
  9. I think what you said was actually very logical. But, what about this?
    suppose you added a little content? I am not saying your information is not
    good, but suppose you added something that makes people desire more?
    I mean Osinbanjo Shun NNPC GMD On $25bn Contract Scam – Trace Reporter is a little boring.
    You should look at Yahoo’s home page and watch how they write
    post titles to get people to open the links. You might try adding a video or a related
    picture or two to get people excited about what you’ve got to say.
    In my opinion, it could make your blog a little livelier.

  10. Pingback: Yeezy
  11. Very good website you have here but I was curious about if you knew
    of any forums that cover the same topics discussed in this article?
    I’d really love to be a part of online community where I can get feed-back from other
    knowledgeable individuals that share the same interest. If you have any suggestions, please let me know.


  12. Hey there, I think your website might be having browser compatibility issues.
    When I look at your blog in Opera, it looks fine but when opening in Internet Explorer, it has some overlapping.

    I just wanted to give you a quick heads up! Other then that, amazing blog!

  13. Pingback: NFL Jerseys
  14. Pingback: custom nfl jerseys
  15. Pingback: Nike Shoes
  16. Unquestionably believe that which you said. Your favorite reason appeared
    to be on the internet the easiest thing to be aware of.
    I say to you, I certainly get irked while people consider worries
    that they plainly don’t know about. You managed to hit the nail upon the top and also defined out the whole
    thing without having side-effects , people could take a signal.
    Will likely be back to get more. Thanks

  17. When someone writes an piece of writing he/she keeps the thought of a user
    in his/her brain that how a user can understand it.
    So that’s why this post is amazing. Thanks!

  18. Normally I do not read post on blogs, however I wish to say
    that this write-up very forced me to check out and do it!
    Your writing taste has been amazed me. Thank you, very
    great post.

  19. Hi, this weekend is fastidious in favor of me, for the reason that this time i am reading this enormous educational post here at my residence.

  20. Have you ever considered about adding a little bit more than just your
    articles? I mean, what you say is fundamental and everything.
    However think about if you added some great images or video clips to give
    your posts more, “pop”! Your content is excellent but with pics and clips, this blog could definitely be one of
    the best in its niche. Very good blog!

  21. Pingback: Google
  22. Pingback: naughty paddle
  23. Pingback: bondage kit
  24. Pingback: Buiten Speelgoed
  25. Pingback: sexy lingerie
  26. Pingback: minoxidil 15%
  27. Pingback: Yeezy 350
  28. Pingback: bdjobs24
  29. That is a very good tip particularly to those new to the blogosphere. Simple but very precise information… Many thanks for sharing this one. A must read article!

  30. Pingback: nike roshe
  31. Pingback: nike air max 2018
  32. I do accept as true with all the concepts you’ve introduced on your
    post. They’re really convincing and can definitely work.
    Still, the posts are very brief for starters. Could you please
    extend them a little from subsequent time? Thank you for
    the post.

  33. My programmer is trying to convince me to
    move to .net from PHP. I have always disliked the idea because of the expenses.

    But he’s tryiong none the less. I’ve been using WordPress
    on numerous websites for about a year and am
    worried about switching to another platform. I have heard great things about blogengine.net.
    Is there a way I can transfer all my wordpress content into it?

    Any help would be really appreciated!

  34. Pingback: Dank Vapes
  35. Pingback: kenya baking cakes
  36. Pingback: Google
  37. Pingback: ABP-898
  38. Pingback: Cool t shirts
  39. Pingback: EBOD 710
  40. Pingback: 618media.com
  41. I’m excited to uncover this web site. I wanted to thank you for ones time for this wonderful read!! I definitely liked every little bit of it and i also have you book marked to see new information in your site.

  42. Pingback: basketball
  43. Pingback: prostate massager
  44. Pingback: Cleanmymac Crack
  45. Pingback: sexy underwear
  46. Pingback: bondage sex toys
  47. Pingback: dank carts

Leave a Reply

Your email address will not be published. Required fields are marked *