Wednesday, 6 March 2019

NNPC to build fertilizer plant in bayelsa, and power plant in FCT and kano

The Nigerian National Petroleum
Corporation (NNPC) says it is prepared to
build additional Independent Power Plants
(IPP) in Abuja, Kaduna and Kano which
are expected to add 4,000 megawatts of
power to stabilize the national grid.
The national oil company also disclosed
that it would construct a fertilizer plant 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,
stated this at the inaugural board meeting
of GPIC at the NNPC Towers in Abuja.
The GPIC, according to a statement by
NNPC spokesman, Mr. Ndu Ughamadu, 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 and Medium Enterprises (SMEs)
in the areas would be better for it.
“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
said.
He said the setting up of the company
would add value in terms of payment of
taxes and generating more revenue for
the country.
He stated that the fertilizer project in
Brass, Bayelsa State, would produce
fertilizer to boost agriculture in the
South-South and other regions of the
country.

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