Osinbajo holds meeting with Kachikwu, Baru over cash call

Vice-President Yemi Osinbajo on Wednesday held a meeting with Ibe Kachikwu, Minister of State for Petroleum Resources, and Maikanti Baru, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC).

The meeting took place at the presidential villa in Abuja.

Kachikwu told journalists that they discussed issues around oil fields as well as the opening of escrow accounts and cash call.

“It’s a meeting on the upstream. It was largely AGIP bringing some information to the vice-president on where they had been in terms of Okpai, in terms of Zabazaba Deepwater oilfield field, in terms of the cash call exit which they are doing with NNPC,” he said.

“Agip was basically updating him, asking for areas where they need some assistance from government officials to sort of fast track. It was normal upstream meeting.”

On the issue of cash call, he said, “We discussed 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. Installment payments are already going on, I think NNPC is undertaking by October or early next month to complete that whole process. So is going on very well.”

The meeting comes after Kachikwu accused Baru of $25bn contract scam in a memo to President Muhammadu Buhari.

Follow @ynaija on Twitter

Comments

Leave a Reply

Your email address will not be published.