…also to build fertiliser plant in Bayelsa
The Federal Government has upped the stakes in its bid to improve power supply to Nigerian homes with the announcement of its plans to build extra Independent Power Plants, IPP in Abuja, Kano and Kaduna.
On completion, the project is expected to boost the national grid with an additional supply of 4,000 megawatts of power.
In a related development, the Federal Government also announced plans to build a Fertilizer Project in Brass, Bayelsa State.
Chief Financial Officer of Nigerian National Petroleum Corporation, NNPC, and Chairman of the Board of NNPC Power subsidiary, Gas and Power Investment Company (GPIC), Mr. Isiaka Abdulrazaq, gave the information at the inaugural board meeting of GPIC at the NNPC Towers in Abuja.
Mr Abdulrazaq 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.
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 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,” Abdulrazaq enthused.
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