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Kachikwu, Baru, in spotlight, discuss oil fields with VP Osinbajo

Vice President Yemi Osinbajo on Wednesday met with the minister of state for petroleum resources, Dr Ibe Kachikwu and the group managing director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, at the presidential villa in Abuja.

Speaking with State House correspondents at the end of the meeting, Kachikwu stated that issues around oil fields as well as the opening of escrow accounts and cash call were discussed during the meeting.

He said, “It’s a meeting on the upstream. It was largely AGIP bringing some information to the vice-president on where they had been in terms of Okpai, in terms of Zabazaba Deepwater oilfield field, in terms of the cash call exit which they are doing with NNPC.

“Agip was basically updating him, asking for areas where they need some assistance from government officials to sort of fast track. It was normal upstream meeting.”

Regarding the issue of cash call, Kachikwu said, “We discussed only to the extent that a few completion items on NNPC, largely the opening up of the escrow accounts and that type of stuff which they need to fasten up on.

“But we are far gone on that. Installment payments are already going on, I think NNPC is undertaking by October or early next month to complete that whole process. So is going on very well.”

Kachikwu had alleged in his leaked letter that Baru had among other things, awarded $25billion contracts.
But Baru has denied the allegations, saying that under his watch, due process was followed in all his activities at the NNPC

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Ihesiulo Grace

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