{"id":30604,"date":"2014-08-27T11:18:21","date_gmt":"2014-08-27T10:18:21","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=30604"},"modified":"2014-08-27T11:18:21","modified_gmt":"2014-08-27T10:18:21","slug":"tinubu-collected-1-5-billion-oil-contract-dieziani-apc-convention","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/tinubu-collected-1-5-billion-oil-contract-dieziani-apc-convention\/","title":{"rendered":"How Tinubu Collected $1.5 Billion Oil Contract From Dieziani Before APC Convention"},"content":{"rendered":"

Departing APC chieftain, Chief Tom Ikimi, has taken a swipe at former<\/span>
Lagos governor, Asiwaju Bola Ahmed Tinubu, over the recently approved $1.5<\/span>
billion oil deal between Oando Plc and ConocoPhillips in the upstream<\/span>
sector.<\/span>

The deal, aggrieved APC members told TheCable, was struck in June at a<\/span>
secret meeting between Tinubu and minister of petroleum resources, Mrs.<\/span>
Diezani Alison-Madueke, at the Abuja home of the PDP national chairman,<\/span>
Alhaji Adamu Mua\u2019azu \u2500 a day to the APC national convention, where<\/span>
Ikimi failed in his bid to become APC national chairman.<\/span>

He believes Tinubu worked against his bid and finally wrote to the party<\/span>
on Tuesday to withdraw his membership, but not before carpeting the former<\/span>
Lagos State governor who was said to have opposed Ikimi because he could<\/span>
\u201csell\u201d APC to PDP.<\/span>

Ikimi, in his resignation letter, in turn insinuated that Tinubu was the<\/span>
one doing the \u201cselling\u201d \u2500 although he did not mention him by name.<\/span>
He asked in his letter: \u201cWho by the way is the buyer? Is it the PDP<\/span>
Government that opened its doors once more recently to one of the APC<\/span>
foremost boastful and noisy leader to consummate a mega oil deal on the<\/span>
eve of that controversial APC convention? Who then is really selling and<\/span>
who is indeed buying?\u201d<\/span>

The mega deal had been stalled for a while allegedly by the federal<\/span>
government for political reasons, but was approved shortly before the<\/span>
convention in what is now being interpreted as a 2015 \u201ctactical manoeuvre\u201d<\/span>
by President Goodluck Jonathan.<\/span>

ConocoPhillips, an American company, had reached an agreement with Oando<\/span>
two years ago for the Nigerian company to take over its interest in the<\/span>
upstream oil and gas operations.<\/span>

However, as Oando made to raise the needed finance for the deal, the<\/span>
federal government was seen as raising obstacles to its successful<\/span>
completion.<\/span>

When Oando, which is listed on the stock exchanges of Nigeria, South<\/span>
Africa and Canada, tried to raise a bond on the London Stock Exchange last<\/span>
year for the transaction, it was scuppered by an allegation in court that<\/span>
former governor of Delta State, Chief James Ibori \u2500 who is currently<\/span>
serving a jail sentence for corruption in the UK \u2500 had an interest<\/span>
in Oando.<\/span>
This caused Oando a big set-back, temporary affecting its value in the<\/span>
stock market. ConocoPhillips\u2019 fields produced about 43,000 barrels of oil<\/span>
a day last year and have proven reserves of 213 million barrels of oil<\/span>
equivalent.<\/span>

With the take-over of ConocoPhillips\u2019 Nigerian upstream assets, Oando is<\/span>
now one of the biggest players in the upstream sector in the country. But<\/span>
Tinubu\u2019s associates have consistently denied insinuations that he has a<\/span>
stake in Oando Plc.<\/span>

Meanwhile, Ikimi also took a swipe at Tinubu over the failed presidential<\/span>
quest of Malam Nuhu Ribadu who only won one state in the south-west in<\/span>
2011 despite being the candidate of the dominant party, Action Congress of<\/span>
Nigeria (now party of APC), in the zone. Jonathan won five of the six<\/span>
states under the control of ACN.<\/span>

Ikimi wrote: \u201cWho sold Mallam Nuhu Ribadu\u2019s ACN Presidential candidature<\/span>
in 2011? Was it Chief Tom Ikimi?\u201d<\/span>

Courtesy: The Cable<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Departing APC chieftain, Chief Tom Ikimi, has taken a swipe at formerLagos governor, Asiwaju Bola Ahmed Tinubu, over the recently approved $1.5billion oil deal between Oando Plc and ConocoPhillips in…<\/p>\n","protected":false},"author":1,"featured_media":28056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-30604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\nHow Tinubu Collected $1.5 Billion Oil Contract From Dieziani Before APC Convention - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/tinubu-collected-1-5-billion-oil-contract-dieziani-apc-convention\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Tinubu Collected $1.5 Billion Oil Contract From Dieziani Before APC Convention - 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