The Nigerian National Petroleum Company Limited (NNPC), has indicated its interest in the purchase of power plants under the National Integrated Power Project (NIPP) put up for sale by the Federal Government through the Bureau of Public Enterprises (BPE).
Expressing the state-owned oil and gas company in the acquisition of the power plants, NNPC’s Group Managing Director, Mele Kyari led the management team of the firm on a courtesy visit to the BPE in Abuja, during which he expressed confidence that under his leadership, the company has the requisite expertise and experience to be an active participant in the power sector in Nigeria.
Maintaining that NNPC is determined to increase sustainable power supply to Nigerian homes nationwide through investments, Kyari disclosed that the oil and gas company recently signed a contract with China Machinery Engineering Company (CMEC) and General Electric (GE) to provide 50 megawatts of electricity to Maiduguri, Borno State.
“According to him (Kyari), the management of NNPC is determined to run the organisation efficiently and profitably for the benefit of the shareholders, hence it plans to engage in activities that will generate funds and for the power sector,” a statement by the BPE read partly.
On his part, the Director-General (DG), BPE, Alex Okoh confirmed that the NNPC had indicated an interest in the acquisition of some NIPP plants and would be given a level-playing ground to compete with other bidders.
Okoh said the National Council on Privatisation (NCP) would be notified of the desire by the NNPC to bid for the NIPP plants.
The statement indicated that the Special Adviser to the President on Infrastructure, Ahmad Zakari, was part of the courtesy visit.
What you should know
Since the passage of the Petroleum Industry Act (PIA), NNPC has been committed to expanding its asset base both in the oil and gas industry, and the energy sector at large. And when the law comes to its full swing, the state-owned oil, and gas company is expected to sustain its new status by pursuing new investment opportunities in the energy sector in a deliberate move to expand its asset base.
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