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ADAMS NATURAL RESOURCES FUND INC (PEO)
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Adams Natural Resources Fund : Press awash with controversial $25b contract fraud

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10/06/2017 | 12:47pm CEST

APA-Abuja (Nigeria) The controversy surrounding the awards of $25 billion contracts by the state-owned petroleum corporation is the trending story in Nigerian newspapers on Friday.

The Guardian lead story explained that the opposition Peoples Democratic Party (PDP) has declared that the alleged $25 billion contract fraud at the Nigerian National Petroleum Corporation (NNPC) was perpetrated to raise funds for the re-election bid of President Muhammadu Buhari.

The party described as disgusting what it called a high level of looting in the current administration, expressed shock at “the loud silence of President Buhari on the humongous corruption, the newspaper said.

This Day newspaper also reported that President Buhari has invited the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to meet with him to discuss the contents of his letter, alleging irregularities in the $24 billion contract awards.

The minister, according to the newspaper, alleged insubordination and brazen awards of the contracts by the Group Managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru.

The Leadership newspaper said as Nigeria joined the global community to mark World Teachers Day, some state governors expressed worry over the increasing rate at which school teachers in the country are getting addicted to drugs.

The Punch newspaper reported the Nigerian Army saying the leader of the Indigenous People of Biafra, Nnamdi Kanu, has no means of livelihood, but used “propaganda” to make people believe him.

The Nation newspaper said governorship election will hold in Ekiti State on July 14 next year and on September 22 in Osun state.

MM/GIK/APA

(c) 2017 Agence de Presse Africaine (APAnews). All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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