Vice President Yemi Osinbajo has said that he approved contracts of the Nigerian National Petroleum Corporation, NNPC, when President Muhammadu Buhari was away on medical vacation.
Osinbajo explained that the approval was to clear the backlog of unpaid cash calls inherited by the current administration.
The approvals, he however stressed, were given after due diligence was observed.
The explanation is contained in the tweets by Osinbajo’s media aide, Laolu Akande.
The tweets read: “In response to media inquiries on NNPC joint venture financing, VP Osinbajo, as Ag President approved recommendations after due diligence & adherence to established procedure…
“Action necessary to deal with huge backlog of unpaid cash calls which Buhari adm. inherited and also to incentivize much needed fresh investments in the oil & gas sector.”
Osinbajo’s explanation came against the backdrop of the controversy generated by the complaints to President Muhammadu Buhari by the Minster of State for Petroleum, Ibe Kachikwu, about the workings in NNPC.
In the letter which was leaked to the press, Kachikwu accused the Group Managing Director of NNPC, Maikanti Baru, of insubordination.
He also said contracts were approved without following the laid down procedure to ensure transparency and accountability.
In its reaction, NNPC denied the allegations, saying it followed due process in awarding contracts.
NNPC said there was no law that stipulated that Kachikwu’s approval was needed in the award of the said contracts.
