April 16, 2024

NNPCL to invest in proposed African Energy Bank- Kyari


Adebayo Obajemu

On the sidelines of the ongoing Nigeria International Energy Summit in Abuja, the Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, Meles Kyari has said NNPCL will invest in the proposed African Energy Bank as a way of ensuring sustainable funding for energy projects in Africa to guarantee energy security.

On the role of the company in divestments of international oil companies from onshore assets, Kyari stated that NNPCL as the largest partner to all the oil-producing firms in Nigeria, merely facilitated and assured smooth disinvestment, stressing that that its role in the divestment of the International Oil Companies, IOCs, from onshore and shallow water assets in the country is that of a facilitator and not a hindrance.

Kyari made the disclosure at the opening ceremony of the 7th edition of the Nigerian International Energy Summit, NIES 2024, which was held at the State House, Abuja, on Tuesday.

He stressed that by the authority of statutory mandate as the enabler of national energy security, NNPC Ltd.’s role is to ensure that, at the end of the day, there is optimal and sustainable production from the divested assets to guarantee energy security for the benefit of Nigerians.

Talking about b investment in energy infrastructure to propel and foster energy security, Kyari further hinted that the completion of the Obiafu-Obrikom-Oben Pipeline was in sight as the tunnelling across the River Niger was currently ongoing.

He assured stakeholders of the company’s commitment to work with them to close the energy deficit gap and create prosperity for Nigerians, adding that from all indications, all issues of energy scarcity in the country would be over in the next 10 years.

The event saw the participation of key industry and governmental figures, including Haitham al-Ghais, Secretary-General of OPEC; Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers’ Organization; Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil); Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas); Amb. Nicholas Agbo Ella, Permanent Secretary of the Ministry of Petroleum Resources; and the Minister of Information and National Orientation, Mohammed Idris Malagi, who represented the Nigerian President, Bola Ahmed Tinubu.

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