Vice-President Yemi Osinbajo on Thursday
admitted that he approved the Nigerian National Petroleum Corporation joint
venture financing contracts as disclosed by the government-owned oil firm.
The Senior Special Assistant to the Vice President on Media and
Publicity, Mr. Laolu Akande, confirmed this in a series of tweets on his
confirmed Twitter handle, @akandeoj.
Akande said Osinbajo approved the recommendations for the
contracts as part of necessary actions to deal with the backlog of unpaid cash
calls and incentivise investments.
He added that the approval was given after due diligence and
adherence to established procedure.
He said Osinbajo approved the contract in his capacity as the
Acting President when President Muhammadu Buhari was away on medical vacation.
“In response to media inquiries on NNPC joint venture financing,
VP Osinbajo, as Ag President approved
recommendations after due diligence and adherence to established procedure.
“Action was necessary to deal with huge backlog of unpaid cash
calls which Buhari administration inherited and also to incentivize much needed
fresh investments in the oil and gas sector,” he said.
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