Nigerian Government Denies Kachikwu, Says No $25bn Contract Anywhere

The Presidency on Sunday cast doubts as to the competencies of its Minister of State for Petroleum Resources, Ibe Kachikwu in the ongoing feud with the Group Managing Director, of the Nigerian National Petroleum Corporation (NNPC) Maikanti Baru.


The Presidency has said that claims on social and traditional media that $25 billion worth of oil contracts were awarded by the NNPC or that $25 billion in NNPC funds is missing are both false.

But the claims of the said contract had been let into the public domain via a memo from the minister which was leaked.

This claim appears another attempt by the presidency to minimize the implication of the allegations contained in the leaked memo, and may be read by many as the latest of the ever-evolving response to the scandal.

Kachikwu in his memo had stated that about five contracts awarded by the NNPC totaling $25billion were awarded under Baru without due process, as neither himself, nor the board of the corporation were privy to the said contracts.

Recall that the NNPC’s response did not dismiss the claims of contracts award, but instead argued that the contentious contracts followed the appropriate and legally stipulated processes contrary to Kachikwu’s allegations.

Also, Laolu Akande, Vice President Yemi Osinbajo’s aide, had in a statement via his twitter handle Thursday stated that what Osinbajo approved the controversial contracts only to backtrack hours later with a new claim that what the vice president approved were not “contracts” but “loans” for joint-venture financing.

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