Nigerian Former Minister of Petroleum Resources Allegedly Sat on $15bn Oil Deal

The former Minister of Petroleum Resources, Mrs Diezani Allison Madueke, failed to sign  a long-term agreement with New Delhi, Nigeria’s Number One oil buyer, but rather used intermediaries in the annual $15 billion deal, the Indian High Commissioner to Nigeria, Ajjampur R. Ghanashyam, has revealed.

Speaking in an interview with Daily Trust on Sunday at the weekend, the High Commissioner stated that Nigeria is the only country who uses intermediaries in its oil deals with India, saying, “From other countries, when we buy oil, whatever we want to pay, we pay to the Ministry of Finance of that country. In Nigeria, we pay to intermediaries. We would like to be dealing directly with the Nigeria National Petroleum Corporation (NNPC). It’s not a good thing. Why should we go through intermediaries? Secondly, we would also like to have long term agreement, which we have with many countries: Iran, Iraq, Saudi Arabia, and other countries from where we buy oil. Nigeria is the only country with whom we don’t have an agreement. .. When we write a letter to NNPC, we don’t get a response. READ MORE OF THIS STORY

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