Nigeria’s Minister of state for petroleum resources, Ibe Kachikwu and Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC) on Wednesday met with Vice-President Yemi Osinbajo at the presidential villa in Abuja.
Addressing state house correspondents at the end of the meeting, Kachikwu said issues around oil fields as well as the opening of escrow accounts and cash call were discussed at the meeting.
“It’s a meeting on the upstream. It was largely AGIP bringing some information to the vice-president on where they had 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,” he said.
“Agip was basically updating him, asking for areas where they need some assistance from government officials to sort of fast track. It was normal upstream meeting.”
On the issue of cash call, he said, “We discussed 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. Installment 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.”
Kachikwu and Baru have been in the news since the petition of insubordination the minister wrote against the GMD was made public. An allegation the latter denied.
