The Nigerian National Petroleum Company (NNPC) Limited, has provided reason for its interest in the acquisition of power plants owned by the federal government under its Nigerian Integrated Power Project (NIPP).
The state-owned oil company said that it has the requisite expertise and experience to participate actively in Nigeria’s power sector, adding that as an enabler, the NNPC is determined to boost power generation and supply in Nigerian homes.
According to a statement issued on Monday by the Head, Public Communications, Bureau for Public Enterprises (BPE), Ibeh Chidi, this was made known by the Group Managing Director of NNPC, Malam Mele Kyari, when he visited BPE in Abuja.
What the Group Managing Director of NNPC is saying
Kyari said that the NNPC plans to engage in activities that would generate funds, especially the power sector, as it is ready to collaborate with the BPE after the audit of some of its assets for sale and divestment of those assets.
The NNPC boss in his statement said, “As an oil company and enabler organisation, NNPCL is determined to boost power generation and supply to Nigerian homes.
“This can be achieved through increased investment hence it had signed a contract with China Machinery Engineering Company (CME) and General Electric, (GE) to provide 50 Mega Watts of electricity to Maiduguri.’’
According to him, the management of NNPCL is determined to run the organisation efficiently and profitably for the benefit of the shareholders.
“Hence, it plans to engage in activities that would generate funds, and for the power sector, NNPCL is a partner of choice.’’
Kyari said that the planned audit would be carried out by renowned and reputable audit firms.
Speaking earlier, the Director-General of BPE, Mr Alex Okoh, said that NNPCL had indicated interest in the acquisition of some Nigeria Integrated Power Plants (NIPPs). Adding that there would be a level playing ground to compete with other bidders.
What you should know
- The Nigerian National Integrated Power Project (NIPP) was conceived in 2004 when Olusegun Obasanjo was the President of the Federal Government of Nigeria.
- It was formed to address the issues of insufficient electric power generation and excessive gas flaring from oil exploration in the Niger Delta region, with 7 power plants designed in gas-producing states as part of the project.
- Together, the projects generated contracts worth $414,000,000 for the supply of turbines and electricity generation equipment to General Electric.
