Feelers from Abuja indicate that Minister of State ,Finance Mr Remi Babalola may be on his way out of President Goodluck Jonathan's cabinet.If he does not resign as as soon as possible, it is likely he will be sacked ,sources said.

Babalola is at the centre of the controversy over the insolvency or otherwise of NNPC.Though Babalola announced on Tuesday that NNPC was insolvent an incapable of meeting its financial commitments, the federal government surprisingly came out yesterday debunking  the minister of state's claim.Professor Dora Akunyili the information and communications minister  and Olusegun Aganga  the minister of finance yesterday picked holes in Babalola's statement yesterday.

But Newsdiaryonline learnt that Babalola may have actually told the truth :That NNPC is in a parlous state financially;that in any case an audit into the books of the NNPC had earlier been ordered by the FG and the reports are not positive to say the least.The Minister of state's problem is that he was not authorised to say so yet.The regime according to sources wanted the revelations kept secret for now in order not to jeopardize NNPC in the eyes of its business partners.Babalola simply injected the confidential revelations  at his disposal into his speech to the shock of the government, a source claimed.The question within some informed official circles is :Why did he(Babalola) release the information?

However 'the NNPC insolvency' saga is seen as an opportunity for Aganga to hit back at Babalola.The substantive minister and his junior colleague  are alleged to have been waging a war of attrition;some said it's some kind of superiority battle between the two.Babalola is said to have carried on with his job like he did when the rather quiet former Finance Minister Mansur Mukthar held sway.Back in those day, Babalola did most of the talking  and the presentations before the media and he seemed to have enjoyed the limelight.Mukthar did not seem to worry about that as he faced his job squarely.

But reports of late have been indicating  some unease between the the new senior and junior  ministers because Babalola is 'taking the shine off Aganga', a situations some allege the latter is unhappy about.

Well if the problem before now had been between the two of them, Babalola may have worsened his woes as the presidency is said to be  very unhappy with his damaging revelations about the financial state of the NNPC.