Osinbajo Approved NNPC Joint Venture Contracts – Spokesman

Rotimi Morgan/

Senior Special Assistant to the Vice President on Media and Publicity, Mr. Laolu Akande, has confirmed that the VP approved the controversial Nigerian National Petroleum Corporation joint venture financing contracts.

Akande gave the confirmation on Thursday in a series of tweets on his Twitter handle, @akandeoj.

He said Vice President Yemi Osinbajo gave the approval after due diligence and adherence to established procedure.

Akande said the vice president’s approval was necessary to deal with the backlog of unpaid cash calls and incentivise investments.

His tweets read in part: “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 incentivise much needed fresh investments in the oil and gas sector.”