The Nigerian National Petroleum Corporation (NNPC) has made a release today breaking silence on the recent letter written by the Minister of State for Petroleum Dr. Ibe Kachikwu to President Muhammadu Buhari.
The group in the statement signed by the General Manager Public Affairs, Ndu Ughamadu, states that the law and rules of NNPC does not require discussion with the Minister of state but the President before awarding contracts.
”It is important to note from the outset that the law and the rules do not require a review or discussion with the Minister of State or the NNPC board on contractual matters but the President’s approval in his executive capacity as Minister of Petroleum, or the Federal Executive Council as the case may be.”
The statement adds that it should be noted that for both the crude term contract and the Direct Sale and Direct Purchase (DSDP) agreements, there are no specific values attached to each transaction to warrant the values of $10billion and $5billion respectively placed on them in the claim of Dr Kachikwu.
“Furthermore, contrary to the assertion of Dr Kachikwu that he was never involved in the 2017/2018 contracting process for the Crude Oil Term Contracts, Dr. Kachikwu was in fact expressly consulted by the GMD and his recommendations were taken into account in following through the laid down procedure,” the statement read in parts.