The Minister of State for Petroleum Resources , Dr. Ibe Kachikwu and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr . Maikanti Baru, were involved in a meeting which was presided over by Vice President Yemi Osinbajo on Wednesday at the Presidential Villa, Abuja.
According to PUNCH newspaper, while speaking after the meeting, Kachikwu said, “Is 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 Zabazaba Deepwater oilfield field , in terms of the cash call exit which they are doing with NNPC.”
Kachikwu who briefed State House correspondents after the meeting said further that the meeting “was basically updating him , asking for areas where they need some assistance from government officials to sort of fastrack . It was normal upstream meeting.”
When asked on the extent which the issue of cash call discussed, the minister 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 . Installmental 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 minister also said the meeting discussed “a few completion items on NNPC” with regards to cash call, as well as “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 it is going on very well,” he said.
On whether Nigerians should expect a drop in the price of petrol before Christmas period, Mr. Kachikwu said, “I will like the GDM who does the commercial aspect to comment on that, I will need his position before I can even comment on that.”
The minister did not disclose if the meeting discussed the content of his controversial letter to President Muhammadu Buhari in which he accused Mr. Baru of violating due process in award of contracts and insubordination.
Recall that both Kachikwu and Baru were in the limelight lately over a letter the minister wrote to President Muhammadu Buhari on the NNPC boss.