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Deizani Alison-Madueke on Oil SWAP Deal….All Ex-GMDs Lied Against Me .. due process was observed

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Nigeria’s Former Minister for Petroleum Resources, Mrs. Diezani Alison-Madueke, refutes claims by 3 former Group Managing Directors of the Nigerian National Petroleum Corporation, she awarded of $24 bn contracts to vendors without approval of Board or Government

“whereas, it is the Minister’s responsibility to either give or refuse ‘approval’, it was not within her purview as Minister to draft, initiate or conclude the processes of signing the final contracts. “It is the statutory responsibility of NNPC to ensure that all technical areas are duly covered and all requisite due process parameters are duly implemented.” –
Mr. Clem Aguiyi, spokesperson for Aliso-Madueke

‘I granted “Approval for the Renewal of Contracts” rather than “extension”  for swap deals’
– Alison-Madueke
Diezani Alison-Madueke: Minister for Petroleum Resources in last government. Summoned before House Committee

Former Minister for Petroleum Resources, Mrs. Diezani Alison-Madueke, described the statements  of her 3 former Group Managing Directors, GMDs, of the Nigerian National Petroleum Corporation, NNPC, testifying before the House Committee as out right lies. The Committee is probing the role of NNPC executives in the Oil SWAP and OPA contract awards.

Mr. Andrew Yakubu (L) Mr Austen Oniwon (R)Mr. Andrew Yakubu (L)  Mr Austen Oniwon (R) – Former NNPC GMDs: Accused of lying to House Committee

In a statement issued by  her spokesman, Austin Oniwon, she refuted media reports, which claimed that she granted an “extension” instead of ‘Approval for the Renewal of Contracts’ for the swap arrangements. The former Energy Minister, who is currently undergoing cancer treatment in the United Kingdom,  described the latest revelations as “fabricated tissues of lies deviously concocted to sustain the escalating evil narratives against her person.”

Mr. Aguiyi, in the statement gave a list of the affected ‘renewal of contract’ approvals: “one-year term each for both Messrs Trafigura Beheer BV, and Messrs Societe Ivoirienne de Raffinage (SIR), in August 2010; two-year term in August 2011 for the same companies, and one-year term to NNPC subsidiary, Duke Oil, in January 2011.”
“Two other approvals were consequently sought by the GMD, NNPC, the first of these on August 29, 2014, seeking to ratify all three aforementioned approvals, which had apparently variously expired during the course of 2013.” According to Aguiyi, she approved all three “in view of the criticality of the situation.
Expiry of those terms was put at December 31, 2014, following assurances to the minister that the contractual obligations of the parties to NNPC had, in fact, been fully met, despite the regrettable lapse in renewal time.”

The former Energy Minister in her statement further revealed that the lapses in expiration of renewal dates were put at seven months for Duke Oil, 10 for SIR, and 12 months for Trafigura OPA approvals. She also gave fresh approvals for Offshore Processing Agreements, OPA, on October 28, 2014, on the recommendation of the Group Managing Director, GMD, NNPC which included a new term of two years commencing from January 1, 2015, for Sahara Energy Resources Ltd; Aiteo Energy and Duke Oil.
Adding that “NNPC strongly recommended and outlined the benefits of the OPA over the swaps and put forward the case for migration from the OPA and crude exchange (SWAP) contracts to OPAs fully. “NNPC posited that the ‘experienced benefits of the OPA to the Federation’ would be much greater.
All approvals were due process-driven and granted by the Minister, subsequent to formal statutory written requests, which contained the technical basis for the renewals and forwarded to the Minister by the GMD-NNPC, as is the normal practice. “NNPC had clearly requested for the approval of the Minister for ‘Renewal of the Crude Oil – Refined Products Exchange Agreement’ and ‘Renewal of Offshore Processing Agreement’ on all the various occasions outlined earlier in this press release.”

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