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LequteMan
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The Nigerian government has finally terminated the controversial oil swap deals the former administration made with certain foreign firms.
This was done so the new leadership of the Nigerian National Petroleum Corporation (NNPC) could ensure transparency and due process.
In a memo to the President on August 12, the NNPC sought approval to terminate all such current contracts following a presidential directive.
“This memo purports to seek Mr President’s approval to terminate all current Offshore Processing and SWAP contracts and commence a fresh re-tendering process to ensure transparency, due process and optimized contract terms in favour of the NNPC,” stated the letter signed by Ibe Kachikwu, the Group Managing Director of NNPC.
Responding, the president approved the request in a memo dated August 13 and signed by the Permanent Secretary of the State House, Nebolisa Emodi.
Click here to read full story
Daily Times
This was done so the new leadership of the Nigerian National Petroleum Corporation (NNPC) could ensure transparency and due process.
In a memo to the President on August 12, the NNPC sought approval to terminate all such current contracts following a presidential directive.
“This memo purports to seek Mr President’s approval to terminate all current Offshore Processing and SWAP contracts and commence a fresh re-tendering process to ensure transparency, due process and optimized contract terms in favour of the NNPC,” stated the letter signed by Ibe Kachikwu, the Group Managing Director of NNPC.
Responding, the president approved the request in a memo dated August 13 and signed by the Permanent Secretary of the State House, Nebolisa Emodi.
Click here to read full story
Daily Times
