The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Ibe Kachikwu, disclosed that the Federal Government will raise funds from international investors and the private sector next year, to fund the Joint Venture cash calls between the NNPC and the International Oil Companies operating in the country.
Kachikwu, who made these disclosures during an interactive session with Nigerians living in Vienna, Austria, stressed that the Federal Government had already commenced high level discussions with local and international investors to bridge the perennial JV cash call funding gap.
He stated that this would be driven by the fact that the NNPC operations are now being transparently and efficiently handled while adding that the Corporation now publishes its monthly account, a move which he said, has inspired a lot of confidence among investors and improved the perception index of the Corporation in a positive light in the eyes of the global community.
Source: Vanguard
