NNPC to Invest $15bn in The Construction of Power Plants

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(Ecofin Agency) – The Nigeria National Petroleum Corporation (NNPC) has revealed an independent power plant construction programme that will improve the country’s power generation capacity over the next 10 years.

This programme which is expected to begin within three years will require $15 billion in investment.

According to NNPC’s, Chief Operating Officer (COO), Gas and Power, Saidu Mohammed, the power plants would be built in the next three to ten years by Incorporated Joint Venture Companies which would include the NNPC, international power companies and other Nigerian investors.

Once built, the power plants will generate about 4,000 megawatts.

He explained that the construction initiative would be followed by the expansion of Nigeria’s gas pipeline networks, similar to the Ajaokuta to Abuja-Kaduna-Kano (AKK) project.

The main base-loads to justify such infrastructure are power plants that would consume the gas and for that, we are planning to build about 2,000 to 3,100 megawatts plants, combined, in these three cities,” he said.

 

Source: EcoFinAgency

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