NNPC Expresses Willingness to Invest in African Energy Bank for Sustainable Funding
Nigerian National Petroleum Company Limited (NNPC Ltd) has assured a seamless divestment process of the International Oil Companies (IOCs) from onshore and shallow water assets in the country, amid concerns over potential hurdles. NNPC Ltd emphasized that its role in the divestment of IOCs is that of a facilitator and not an obstacle.
Mele Kyari, the Group Chief Executive Officer of NNPC Ltd, made the clarification at the opening ceremony of the 7th edition of the Nigerian International Energy Summit 2024 (NIES 2024) held at the State House, Abuja. He explained that NNPC Ltd’s statutory mandate as the enabler of national energy security ensures optimal and sustainable production from the divested assets for the benefit of Nigerians.
Kyari also disclosed NNPC Ltd’s willingness to invest in the proposed African Energy Bank to ensure sustainable funding for energy projects in Africa. He highlighted the progress of the Obiafu-Obrikom-Oben Pipeline, with tunnelling across the River Niger currently underway, as part of investments in energy infrastructure to drive energy security.
The event, attended by key industry and governmental figures, including Haitham al-Ghais, Secretary-General of OPEC, and Omar Farouk Ibrahim, Secretary-General of the African Petroleum Producers’ Organization, discussed strategies to close the energy deficit gap and create prosperity for Nigerians. Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), and Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), were also present.
The participation of Amb. Nicholas Agbo Ella, Permanent Secretary of the Ministry of Petroleum Resources, and Mohammed Idris Malagi, Minister of Information and National Orientation, who represented President Bola Ahmed Tinubu, highlighted the government’s commitment to ensuring energy security and prosperity for the country.
TheGuardian News
