HomeNewsNNPC Board War! Powerful oil magnates back petroleum minister, Kachikwu against Baru

NNPC Board War! Powerful oil magnates back petroleum minister, Kachikwu against Baru

There is no gainsaying Baru has stung the giants of the oil industry, from their peaceful repose, as he engages Kachikwu in a no holds barred war of ego, power and words.

According to This Republic reports, petroleum industry giants have joined forces to launch a devastating offensive against the NNPC boss, Baru, in solidarity with Kachikwu, who has so far granted them a fair deal and treated them well since he assumed office as Petroleum Minister.

Several other big guns in the country’s oil sector have aligned forces in the wake of Baru’s antagonism of Kachikwu on Buhari’s watch. Among other things, they are unhappy with the way President Muhammadu Buhari has handled the crisis.

This Republic stated in its report that it is an open secret that the presidency favours Baru against his boss, Kachikwu. Thus, the oil moguls’ decision to protect one of their own. Their loyalty to Kachikwu is however, understandable.

It would be recalled that soon after they got their contracts with the NNPC cancelled in the wake of Buhari’s administration, Kachikwu nullified the cancellation and restored Tunde Ayeni and Capt. Hosa Okunbo ‘s contracts back to them thus saving most of them from interminable losses.

Little wonder they are miffed over the unfair treatment being meted to the petroleum minister, courtesy Baru, on Buhari’s watch. Findings revealed that the oil moguls have compiled a dossier and amassed a war chest by which they intend to prosecute wild offensives against Baru.

The impasse between Baru and Kachikwu manifested soon after the latter accused Baru of humiliating him and being insubordinate in a memo written to President Buhari. Kachikwu alleged that the NNPC boss had repeatedly sidelined and disrespected the board of the national oil firm, which is chaired by Kachikwu as the minister of state.

The minister, in the leaked letter, had informed Buhari that against the rules, some over $25bn (about N9 trillion) contracts were never reviewed or discussed with him or the board of the NNPC before Baru gave them out.

The presidency was embarrassed by the content and import of Kachikwu’s memo and had allegedly instructed Baru to issue a prompt rejoinder to the minister’s memo.

Days after Kachikwu’s memo and his visit to the presidential villa in Aso Rock, at Buhari’s behest, Baru, who had maintained stunning and disconcerting silence, has suddenly found his voice.

Following his rejoinder to Kachikwu’s memo, wherein he dismissed some of the minister’s claims, Baru has described his boss’ allegations as “unfortunate” and “unfounded.”  Read More This Republic

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