By Lawrence Olaoye
Vice President Yemi Osinbajo yesterday met with the Minister of State for Petroleum Resources, Ibe Kachikwu, the Group Managing Director if the Nigerian National Petroleum Corporation (NNPC) Maikanti Baru and officials of the Agip Oil Exploration company behind closed doors.
Responding to questions from newsmen on what the meeting was about, Kachikwu said “It’s a meeting on upstream, a normal typical meeting.
It was largely AGIP bringing some information to the Vice President on where they have been in terms of Okpai, in terms of Zabizabi field; 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 fast track. It was normal upstream meeting.”
He confirmed that the NNPC GMD was also part of the meeting.
On their discussion on the Cash Call exit, 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 is going on very well.”
Asked whether there was any plan to reduce the pump price of petrol since government earnings have increased, he said “I will like the GMD, who does the commercial aspect, to comment on that. I will need his position before I can even comment on that.”
Baru who came out later only told the press that there was no crisis in the ministry.