President Muhammadu Buhari has reversed his approval of Seplat Energy’s purchase of ExxonMobil’s assets.
Special Adviser to the President on Media & Pubcity, Mr Femi Adesina, had, two days ago, said President Buhari approved the purchase of ExxonMobil share by Seplat.
Revealing the latest development, however, Special Assistant to the President on Media & Publicity, Mallam Garba Shehu, told an online publication that the President”s reversal of his earlier approal was in line with the position of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
According to him, the confusion over ExxonMobil shares was because “the various agencies involved in the decision had not coordinated well among themselves”.
He added: “Having looked at all of the facts with all of the ramifications, the President decided the position of the regulator is to be supported.”