Fidelity bank card banner Camano banner
NNPC mulls fertiliser, 3 power plants

By News Express on 06/03/2019

Views: 375


 The Nigerian National Petroleum Corporation (NNPC) has expressed its preparedness to build additional Independent Power Plants (IPP) in Abuja, Kaduna and Kano which is expected to add 4,0000 megawatts of power to stabilise the national grid.

The state-owned oil company also disclosed that it would construct a Fertilizer Project in Brass, Bayelsa State.

Chief Financial Officer of NNPC and Chairman of the Board of NNPC Power subsidiary, Gas and Power Investment Company (GPIC), Mr. Isiaka Abdulrazaq, said this at the inaugural board meeting of GPIC at the NNPC Towers in Abuja.

A release by NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in Abuja Tuesday, said the GPIC was established as a subsidiary under the Gas and Power Directorate to enable the corporation monetize the abundant gas resources in the Country for the benefit of the nation’s economy.

Mr. Abdulrazaq said the GPIC was a very strategic company through which the NNPC would create more value for the country, stressing that by the time the IPPs come on stream in Abuja, Kaduna and Kano, the Small Medium Enterprises (SMEs) in the areas would be better for it.

“The Gas and Power Investment Company Limited (GPIC) is a company which the NNPC has set up basically to focus on how it can create value and monetise the nation’s abundant gas resources. The company will also be focused on developing power stations, fertiliser plants as well as petrochemical plants across the states,” Mr. Abdulrazaq said.

He noted that NNPC has set up the board to enable the company achieve its set targets within a very short period of time, saying the board meeting had mapped out strategies to properly guide the company to enable its Key Performance Indicators (KPI).

He said the setting up of the company would add value in terms of payment of taxes and generating more revenue for the Country, stressing that the company and all the IPPs that would emanate from it would also generate more job opportunities for Nigerians.

Mr. Abdulrazaq stated that Fertiliser Project in Brass, Bayelsa State would produce fertiliser to boost agriculture in the South-South and other regions of the Country.

The Chief Operating Officer, Gas and Power, Engr. Saidu Mohammed, stated that the coming on stream of GPIC would help the NNPC transform into an integrated energy company with the production of 4,000 megawatts of power at strategic locations.

Engr. Mohammed disclosed that all relevant stakeholders in the power sector are in alignment with the NNPC with the establishment of the GPIC. (NAN)

Chief Financial Officer of NNPC and Chairman of the Board of NNPC Power subsidiary, Gas and Power Investment Company (GPIC), Mr. Isiaka Abdulrazaq (right), being shown some documents by Managing Director, Gas and Power Investment Company (GPIC), Mallam Hussaini El-Yakubu, in Abuja Tuesday. 

Source News Express

Posted 06/03/2019 12:11:18 AM

 

 

CLASSIFIED ADS

 

You may also like...
Buhari celebrates Rev. Moses Iloh at 86

Anambra Council Poll: Obiano rallies voters for APGA...

Singer of famous song ‘When a Man Loves...

Lagosians protest hike in Lekki toll gate fees...

EFCC to mark African Anti-Corruption Day with road...

Trial of those who stole NNPC money begins...

STOP BEATING WAR DRUMS —Biafra War veteran Rev....

Abia Government appeals for cooperation of traders, residents...

Mothers-in-law

Saudi Arabia seeks death sentence for female activist...

Nigerians cry out as yet another pastor gets...

How security agencies quarantined Anambra to ensure peaceful...

 

Latest News Okorocha frustrating my inauguration as Imo Governor, Ihedioha cries out Militants kill at least 25 soldiers, some civilians in ambush — Sources Behold! The 36 PDP members INEC declared winners in Zamfara elections Current security problems threatening existence of Nigeria, says Gen. Olonisakin Yoruba youths set agenda for South-West governors Why court stopped Gov. Okorocha from going to Nigerian Senate Security challenges: FG has lost focus, run out of ideas — Secondus Ganduje promotes 24 Directors to Perm Secretaries Angst against a rising dynasty in Abia State Sen. Olujimi mocks Fayose, Eleka over Supreme Court’s verdict Arewa pastors assure Christians Buhari will not Islamise Nigeria Security operatives unleashing ‘militia policing, hate violence’ in South-East Nigeria — Activists

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (482,912 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (420,607 views) Shameless Genevieve Nnaji exposes breasts in public (359,004 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (307,354 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (271,233 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (241,737 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (229,853 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (211,651 views) 10 cars more expensive than Jets (204,153 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (200,999 views) Lagos plane crash: Journalist releases victims’ names (181,704 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (181,682 views)

 

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (91) Business & Economy (4,280) Business Verdict (71) Columnists (1,036) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (616) Features (755) Global Business Monitor (366) ICT Monitor (44) International (3,484) Interview (180) Live Commentary (29) Love Matters (161) Maggie's Blog (276) News (46,563) Opinion (1,244) Pidgin (17) Politics (10,837) Religion (1,011) Sports (2,013) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera