HomeNewsRevelations from "Working with Buhari" Expose Flawed $10M Gas Deal Approval

Revelations from “Working with Buhari” Expose Flawed $10M Gas Deal Approval

Published on

In a startling disclosure from the book “Working with Buhari” by Femi Adesina, former Special Adviser to President Muhammadu Buhari on Media, an erroneous approval of a $10 million gas contract by the immediate past Nigerian President has come to light. This approval, intended for the Nigerian Bulk Electricity Trading (NBET) Plc to facilitate a deal for the Niger Delta Power Holding Company (NDPHC) Limited, has stirred controversy and raised questions about the decision-making processes at the highest levels of government.

The contract, a World Bank Partial Risk Guarantee (PRG) for Accugas to supply natural gas to the Calabar Generation Company Limited (CGCL), part of NDPHC’s portfolio, was initially contested by Marilyn Amobi, the former Managing Director of NBET. Despite her reservations, President Buhari proceeded with the approval, later admitting to being misadvised. This revelation has emerged amidst claims of the ex-president’s signature being forged for Central Bank of Nigeria (CBN) withdrawals and outstanding debts to gas suppliers amounting to $1.3 billion.

The book provides a detailed account of a letter dated March 2, 2017, with the reference number: FMP/9055/S.1/ Vol. 1/69, highlighting President Buhari’s approval on March 27, 2017, for the contentious gas supply arrangement to CGCL. This incident underscores the complexities and challenges within Nigeria’s power sector and the government’s efforts to navigate them.

Adesina’s narrative sheds light on Buhari’s reliance on his advisors for industry-specific decisions, drawing parallels between the responsibilities of leadership positions and the inherent trust placed in advisors. The book recounts a conversation between Amobi and Buhari, where the President lamented the difficulty of making informed decisions across diverse sectors, emphasizing the impact of potentially misguided advice on governance and policy implementation.

“Working with Buhari” not only offers insights into the intricacies of administrative decisions but also prompts a broader reflection on the accountability mechanisms within Nigeria’s political and economic landscapes. As the country continues to grapple with the ramifications of these revelations, the discourse around leadership, trust, and the accurate dissemination of advice in government circles gains renewed significance.

Latest articles

Oyo abducted pupils and teachers will regain freedom soon, says DIG Fayoade

The South-West Coordinating DIG, Adegoke Fayoade, says abducted schoolchildren and teachers in Oyo State will soon regain freedom, insisting security agencies are focused on rescue, not ransom.

You’re a terrible Prime Minister, Badenoch reacts to Starmer’s resignation

Conservative leader Kemi Badenoch has called Keir Starmer a terrible Prime Minister, blaming Labour policies for the UK's challenges as he resigns.

Seek help from us, NDLEA tells Nigerians battling drug dependence

The NDLEA has urged Nigerians battling drug dependence to seek help through its 24-hour counselling and referral service, stressing that recovery is possible with support.

Abia Bans Motorcycles in Three Major Cities

KEY POINTS • Abia State has banned commercial motorcycles in Umuahia, Aba and Ohafia starting...

More like this

Oyo abducted pupils and teachers will regain freedom soon, says DIG Fayoade

The South-West Coordinating DIG, Adegoke Fayoade, says abducted schoolchildren and teachers in Oyo State will soon regain freedom, insisting security agencies are focused on rescue, not ransom.

You’re a terrible Prime Minister, Badenoch reacts to Starmer’s resignation

Conservative leader Kemi Badenoch has called Keir Starmer a terrible Prime Minister, blaming Labour policies for the UK's challenges as he resigns.

Seek help from us, NDLEA tells Nigerians battling drug dependence

The NDLEA has urged Nigerians battling drug dependence to seek help through its 24-hour counselling and referral service, stressing that recovery is possible with support.