Babalola Resigns From Cabinet

ABUJA, Sept 16, (THEWILL) - Minister of Special Duties, Mr. Remi Babalola today resigned from his Ministerial position.

A statement from Presidential Spokesman, Ima Niboro said President Jonathan has accepted his resignation with ‘immediate effect.’

Though the statement cited the embattled minister’s failing health as reason for his sudden resignation, it is strongly believed that it is fallout out of the statement made by Babalola, while he was Minister of State, Finance, to the effect that the NNPC was insolvent.

Babalola’s statement is believed to be correct because the NNPC actually wrote that it was insolvent in a letter to the Finance Ministry.

The controversy generated by his statement is believed to have led to his redeployment to the Ministry of Special Duties as Minister.

Mr. Niboro’s statement reads: "President Goodluck Ebele Jonathan has accepted the resignation of the Minister of Special Duties, Mr. Remi Babalola with effect from today September 16, 2010.

"Mr. Babalola resigned on health grounds.

"President Jonathan wished him full recovery and a speedy return to an active life."