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NNPC expresses interests in power plants acquisition

By Joseph Chibueze, Abuja
08 March 2022   |   3:11 am
Nigerian National Petroleum Company Limited (NNPCL), has said it is determined to help boost power generation and supply in the country through greater investment in the power sector.

NNPC GMD, Mele Kyari.

Nigerian National Petroleum Company Limited (NNPCL), has said it is determined to help boost power generation and supply in the country through greater investment in the power sector.

Managing Director of NNPC, Mallam Mele Kolo Kyari, who disclosed this when he led the top management team of the company on a courtesy visit to the Bureau of Public Enterprises (BPE) in Abuja at the weekend, said the company had the requisite expertise and experience to be an active participant in the power sector in Nigeria, hence it has expressed interest to participate in the acquisition of the power plants put up for sale by the Federal Government through the Nigeria Integrated Power Plants (NIPPs).

Kyari said as an oil company and enabler organisation, NNPCL was determined to boost power generation and supply to Nigerian homes through increased investment, hence, it had signed a contract with China Machinery Engineering Company (CME) and General Electric, (GE) to provide 50MW of electricity to Maiduguri, Borno State.

According to him, the management of NNPCL was 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; noting, “NNPCL is a partner of choice.”

He revealed that the organisation was ready to collaborate with the BPE after the audit of some of its assets for the sale and divestment of those assets.

The GMD added that renowned and reputable audit firms would carry out the planned audit.

Earlier, Director-General of the Bureau of Public Enterprises (BPE), Alex A. Okoh said that the NNPCL had indicated an interest in the acquisition of some NIPP and would be given a level playing ground to compete with other bidders.

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

The Special Adviser to the President on Infrastructure, Ahmad Rufai Zakari was part of the team that conducted the visit.