The Nigerian National Petroleum Corporation on Wednesday mentioned its ongoing reform was geared in direction of reworking it from an oil and fuel firm into an built-in power outfit with curiosity in energy era and transmission.
It additionally acknowledged that the nation’s energy transmission capability was insufficient, including that this was the key purpose for the poor provide of electricity nationwide.
The Group Managing Director, NNPC, Dr. Maikanti Baru, acknowledged this on the 53rd International Conference and Exhibition of the Nigerian Mining and Geosciences Society in Abuja.
He mentioned the company had recognized alternatives within the energy sector and was prepared to benefit from them to remodel from being a fuel provider to the facility sector into a significant participant within the business.
In a press release by the Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, the NNPC boss acknowledged that the company was already engaged on a venture to generate 4 megawatts of electricity, whereas additionally exploring the potential for investing within the transmission phase of the facility sector.
Baru defined that the company’s resolution to diversify into the facility sector was hinged on the necessity to bridge the massive power hole within the Nigerian market.
He mentioned that opposite to the impression that the poor energy scenario was attributable to insufficient fuel provide, the true drawback was inadequate transmission capability.
The GMD mentioned there was sufficient fuel to generate eight,000MW of electricity however the transmission grid couldn’t help such quantum of energy with out issues.
Baru additionally defended the Federal Government’s plan to remodel unlawful refineries within the Niger Delta into authorized entities for correct integration of the youth within the area.
He argued that getting the youth to type consortia to arrange 1,000 barrels per day modular refineries would get them off criminality and create jobs.
In the upstream sub-sector, he mentioned his purpose was to speed up frontier exploration and develop the crude oil reserve to 40 billion barrels from the present 37 billion.
In one other growth, the company has raised the alarm concerning the existence of some doubtful syndicates who specialize in extorting cash from unsuspecting folks beneath the pretext of a purported recruitment train and promise of phantom job placements within the oil agency.
According to Ughamadu, the NNPC at the moment doesn’t conduct any recruitment train and the company will promote vacant positions every time it has want to embark on a recruitment.