Kachikwu Vs Baru: ‘I Approved NNPC Loans Not Contracts’ – Osinbajo
Vice-President Yemi Osinbajo says his presidential approvals were specifically for financing joint ventures, and they were loans not contracts.
Approval for loans is different from approvals for contracts.
The Vice-President Yemi Osinbajo wants Nigerians to understand that the approvals he granted to the NNPC while he was Acting President were for financing arrangements for the Joint Ventures between the NNPC and International Oil Companies
Osinbajo made this clarification in a statement issued by his Senior Special Assistant on Media and Publicity, Laolu Akande, in Abuja on Thursday.
He said that the presidential approvals were specifically for financing joint ventures, and they were loans not contracts.
According to the vice president, the law actually provides for those authorisations.
“Approached by reporters after the ground-breaking multi-billion Naira historic Bonny-Bodo road project, in Bonny, Rivers State, Vice President Yemi Osinbajo, explained specifically 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 IOCs, and not approvals for contracts.
