Nigeria: Buhari Approved N640 Billion Oil Contracts From His Sick Bed in London, NNPC Chief Baru Indicates

President Muhammadu Buhari was granting approvals for oil deals to the Nigerian National Petroleum Corporation during the time he was on his sick bed in London – and when he had relinquished presidential powers to his Vice President – the head, Maikanti Baru, has indicated.

Mr. Baru said Mr. Buhari approved at least two separate oil contracts on July 10 and July 31 worth $1 billion and $780 million, respectively.


The N640.8 billion contracts (at N360/$ exchange rate) were approved when Mr. Buhari was receiving treatment for undisclosed ailments in London, and when he was not supposed to be exercising presidential powers, having named Vice President Yemi Osinbajo acting president in a formal correspondence to the National Assembly.

Mr. Buhari was flown to London on May 7, barely two months after he returned from his first 2017 medical vacation which saw him spend 50 days in the United Kingdom.

On May 9, a letter Mr. Buhari wrote to the Speaker of the House of Representatives and President of the Senate notifying them that he had relinquished presidential authorities in accordance with the Nigerian Constitution was read on the floor of both chambers.

Despite rumours of his early return, Mr. Buhari ultimately spent 103 days receiving treatment in London, returning on August 19.

On August 21, the president notified the National Assembly of his return in writing, saying he had “resumed” his “functions as the President of the Federal Republic of Nigeria with effect from Monday, 21st August, 2017.”

THE CONTRACTS

But on Monday, Mr. Baru revealed that Mr. Buhari had been exercising presidential powers by granting approvals for NNPC joint venture contracts when he was supposedly on his sickbed and not exercising presidential powers.

Mr. Baru gave details of the contracts as follows:

· SN

· PROJECT



· Amount (US$mn)

APPROVALS

· LOAN EXECUTED BY

NTB

PRESIDENTIAL

· 1.

· NNPC/CNL JV Project Cheetah

1,200.00

· 16/04/15

· 01/09/15

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