Nigerian National Petroleum Company Limited (NNPCL), has expressed interest to participate in the acquisition of the power plants put up for sale by the Federal Government through the Nigeria Integrated Power Plants (NIPPs).
Managing Director of NNPCL, Mele Kolo Kyari, disclosed this when he led a top management team of the Oil & Gas Company on a courtesy visit to the Bureau of Public Enterprises (BPE), in Abuja, on Friday.
According to a statement from BPE, Kyari was quoted as saying that NNPC had the requisite expertise and experience to be an active participant in the power sector in Nigeria.
He noted that as an oil company and enabler organisation, NNPCL is determined to boost power generation and supply to Nigerian homes through increased investment.
To this end, it had signed a contract with China Machinery Engineering Company (CME), and General Electric (GE), to provide 50 megawatts of electricity to Maiduguri, Borno State.
NNPCL is determined to boost power generation and supply to Nigerian homes through increased investment.
According to Kyari, the management of NNPCL is determined to run the organisation efficiently and profitably for the benefit of the shareholders, hence it plans to engage in activities that would generate funds; and for the power sector, “NNPCL is a partner of choice.”
He revealed that the organisation is ready to collaborate with BPE after the audit of some of its assets for their sale and divestment, which would be carried out by renowned and reputable audit firms.
Earlier, the Director-General, BPE, Alex A. Okoh, said the NNPCL had indicated interest in the acquisition of some NIPPs and would be given a level playing ground to compete with other bidders. Okoh added that the National Council on Privatisation (NCP) would be notified of the NNPCL’s desire to bid for the power plants.