The Minister of State for Petroleum, Ibe Kachikwu, and the Group Managing Director, GMD, of the Nigeria National Petroleum Corporation, NNPC, Maikanti Baru, on Wednesday held a closed door meeting with Vice President Yemi Osinbajo in his office at the presidential Villa, Abuja.
Mr. Kachikwu, who briefed State House correspondents after the meeting said it was held to discuss issues in the upstream sector of the oil and gas industry.
He said the meeting was necessitated by some information brought about by an International oil company, AGIP, regarding its operations in “Okpai, in terms of Zabazaba field, and in terms of the cash call exit which they are doing with the NNPC.”
He said the meeting briefed Mr. Osinbajo on areas the company needed assistance from some government officials to fast track their operations of the field.
The minister also said the meeting discussed “a few completion items on NNPC” with regards to cash call, as well as “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, instalmental payments are already going on, I think NNPC is undertaking by October or early next month to complete that whole process. So it is going on very well,” he said.
On whether Nigerians should expect a drop in the price of petrol before Christmas period, Mr. Kachikwu said, “I will like the GDM who does the commercial aspect to comment on that, I will need his position before I can even comment on that.”
The minister did not disclose if the meeting discussed the content of his controversial letter to President Muhammadu Buhari in which he accused Mr. Baru of violating due process in award of contracts and insubordination.
The letter generated much controversy among Nigerians with the presidency eventually saying the monetary value of $25 billion Mr. Kachikwu referenced in his letter as the sum of the controversial contracts was fabricated.
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