Stella Dimoko NNPC:-VP Osinbajo Says Approvals Were for Financing Arrangements Not For Contracts


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Friday, 13 October 2017

NNPC:-VP Osinbajo Says Approvals Were for Financing Arrangements Not For Contracts

Vice President Osinbajo SAN was Approached by reporters after the ground-breaking multi-billion Naira historic Bonny-Bodo road project, in Bonny, Rivers State, and he 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.

Said he: “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.



Anonymous said...

Sometimes I pity the untenable position they put this man in. He will always support his president and has spoken the truth. I bet he can't wait for this tenure to be over.

Yori Yori Princess Loveme Jeje said...

Baru wants to rope pasitor but he has failed.

Shame to this government and APC. See how corruption is laughing and enjoying henessey.

Stupid government

Anonymous said...

I believe the VP. Buhari and the cabal are trying to use him to cover their corruption but it's not working. Buhari and the cabal are robbing Nigeria. See $25M worth of contract approved WITHOUT DUE PROCESS. Most corrupt government ever

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