NNPC to diversify into power sector

[Edoman]

NNPC to diversify into power sector
March 6, 2020
 
in Business, News Update

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As part of measures to ensure stable power supply in the country, Nigerian National Petroleum Corporation, (NNPC) has announced its resolve to diversify into power generation, transmission and distribution.

The Group Managing Director of the corporation, Mele Kolo Kyari stated this in Kaduna on Thursday at the NNPC’s Special day, at the 41st Kaduna International Trade Fair. The Fair is organised by the Kaduna Chamber of Commerce, Industry, Mines and Agriculture, (KADCCIMA).

Kyari who was represented by the Managing Director, Kaduna Refining and Petrochemical Company (KRPC), Mr Ezekiel Osarokube, said the decision to go into the power sector was hinged on the need to bridge the huge energy gap in the Nigerian market.

According to him, the, corporation is transforming from a traditional oil and gas entity into an integrated energy outfit with interest in power generation and transmission.

The NNPC boss also disclosed that, the  corporation has engaged in development of renewable energy to overtime create low-carbon economy and link the Oil and Gas Sector to the Agricultural Sector.

Kyari also said the corporation under his leadership is doing everything possible to extend gas supply to every part of the country through the construction of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline.

According to him, “Construction work on the AKK Pipeline which is designed to move gas to power industries in the Northern corridor is billed to commence in the second quarter of this year.