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5 Oct 2017

26 BILLION DOLLARS MISSING IN NNPC UNDER BUHARI NOSE AS PRSIDENT AND MINSTER OF PETROLEUM

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 ''Over $25 billion worth of contracts have been awarded without following due process and no traces of the funds and projects: According to Kachikwu, in the over one year Dr Baru has served as NNPC GMD, no contract has been run through the board. This is in spite of the fact that the legal and procedural requirement of contract awarding is that contracts worth over $20 million would need to be reviewed and approved by the Board of NNPC''.
Kachikwu went on to list a number of contracts totaling $25 billion which were awarded by the NNPC Tenders Board which GMD, Dr Baru heads that flouted the $20 million mark.
The contracts include:
- The Crude Term contracts - value at over $10 billion
- The DSDP contracts - value at over $5bn
- The AKK pipeline contract - value approximately $3bn
- Various finacing allocation funding contracts with the NOCs - value over $3bn
- Various NPDC production service contracts - value at over $3bn -$4bn
 Who authorised the award of this pseudo-contracts and who approved the re;eased of funds? This and many more are the questions on the lips of the public begging for answers

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Nigerians are reacting and below are their reactions on this shameful ill practices













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