BEVERLY HILLS, October 18, (THEWILL) – 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), Maikanti Baru.
THEWILL recalls that the Minister had in a leaked letter to President Muhammadu Buhari accused Baru of awarding $25 billion contracts without following due process.
Speaking with newsmen after the closed door Meeting, Kachikwu revealed that oil upstream issues were discussed insisting that it was a normal meeting.
“Its a meeting on Upstream Meeting, a normal typical meeting,” he said.
“It was largely AGIP bringing some information to the Vice President on where they have been in terms of Okpai, in terms of Zabazaba Deepwater oilfield, in terms of the cash call exit which they are doing with NNPC, basically updating him, asking for areas where they need some assistance from government officials to sort of fastrack. It was normal upstream meeting.
On the extent the issue of cash call was discussed, he said “Yes we did 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, 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.
Asked if the GMD was part of the meeting, Kachikwu said “Definitely, of course.”
Asked if petrol price will come down before Christmas because of improvement of revenue, he 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.”