NNPC Unveils Plans to Expand Gas Generation, Distribution

oil
  • NNPC Unveils Plans to Expand Gas Generation, Distribution

The Nigerian National Petroleum Corporation (NNPC) said on Friday it has unveiled plans to expand gas generation and distribution in the country to support Federal Government’s plan of generating 10 GigaWatts of electricity.

The NNPC spokesperson, Mr. Ndu Ughamadu, stated this in a statement in Abuja.

He said the Corporation’s Group Managing Director, (GMD), Dr. Maikanti Baru, made the disclosure when a delegation of Nigerian Gas Association (NGA) visited him in Abuja.

Baru said the recent debt settlement for Joint Ventures (JV) would have great impact on the gas industry.

He said the JV initiative was capable of providing some dedicated funds to develop the oil and gas sector.

“We share the aspiration of government to raise power generation to at least 10GW capacity, not just 10GW in terms of installed capacity but also one that will be steady in the grid by 2020.

“All these will drive our activities to ensure that the gas business is expanded and government’s aspiration to earn as much revenue from gas as oil will be realised definitely,” Baru said.

He said significant progress had been recorded in the contracting process of the $2.7 billion Ajaokuta- Abuja- Kaduna- Kano gas pipeline project.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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