…Targets additional 4,000megawatts to national grid

By Chibisi Ohakah, Abuja

Nigerian National Petroleum Corporation (NNPC) is building additional Independent Power Plants (IPP) in Abuja, Kaduna and Kano, expected to contribute about 4,0000 megawatts of power to the national grid. NNPC is also constructing a fertilizer project in Brass, Bayelsa state.

Disclosing this during the last board meeting of the NNPC subsidiary, Power Investment Company [GPIC] in Abuja, the chief financial officer of NNPC and chairman of the board of GPIC, Mr. Isiaka Abdulrazaq, said by the time the Independent Power Projects come on stream in Abuja, Kaduna and Kano, the Small Medium Enterprises (SMEs) in the areas would be better for it.

According to him, the NNPC is geared towards creating more value for the country through the GIPC strategic subsidiary. The GPIC was established as a subsidiary under the gas and power directorate to enable the Corporation monetize the abundant gas resources in Nigeria for the benefit of the economy.

 “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 monetize the nation’s abundant gas resources. The company will also be focused on developing power stations, fertilizer plants as well as petrochemical plants across the states,” Mr Abdulrazaq enthused.

That NNPC set up the board to enable the company to achieve its set targets within a very short period of time, whereas the board meeting had mapped out strategies to properly guide the company to enable its Key Performance Indicators (KPI), the chief financing officer stated. Stressing further, he said the setting up of the company would add value in terms of payment of taxes and generating more revenue for the country, and that the company and all the additional IPPs would also generate more job opportunities for Nigerians.

On the fertilizer project in Bayelsa state, Abdulrazzaq said the idea is to boost agriculture in the South-South and other regions of the country.

In his own comments, the chief operating officer, Gas and Power, Engr. Saidu Mohammed, said 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. According to him, all relevant stakeholders in the power sector are in alignment with the NNPC with the establishment of the GPIC.

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