• Monday, June 24, 2024
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NNPC signals interest in government-owned power plants

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The Nigerian National Petroleum Company Limited (NNPC) has signalled interest in acquiring the Nigeria Integrated Power Plants (NIPPs) put up for sale by the Federal Government.

Managing Director of NNPCL, Mele Kyari disclosed this when he led the top management team of the Oil & Gas Company on a courtesy visit to the Bureau of Public Enterprises (BPE) in Abuja.

Kyari said as an oil company and enabler organisation, NNPC is determined to boost power generation and distribution through increased investment. The company also has the required expertise and experience to be an active participant in the power sector in Nigeria, he added.

The Corporation had signed a contract with China Machinery Engineering Company (CME) and General Electric, (GE) to provide 50 Megawatts of electricity to Maiduguri, Borno State.

Read also: NNPC records N37.50bn trading surplus in September

According to Kyari, the management of NNPCL is determined to run the organisation efficiently and profitably for the benefit of the shareholders, and will engage in activities that will generate funds; and for the power sector.

“NNPCL is a partner of choice,” Kyari stated at the courtesy visit on Friday.

He also assured of the NNPC readiness to collaborate with the BPE on some of those assets earmarked for sale and divestment after a proper audit.

The GMD added that the planned audit will be carried out by renowned and reputable audit firms.

The Director General of the Bureau of Public Enterprises (BPE), Alex Okoh acknowledged NNPC interest in the NIPPs and assured that it will be given a level playing field with the other bidders during the sale process.

Okoh added that the National Council on Privatisation(NCP) will be notified of the desire by the NNPC to bid for the NIPP plants.