Nigeria National Petroleum Corporation (NNPC) supplies the “most reliable and cheapest power’’ to Nigerians, Dr Maikanti Baru, the corporation’s Group Managing Director, has said.
Baru made the statement in Houston on Monday while addressing newsmen on the sidelines of the 2017 Offshore Technology Conference.
OTC is an annual conference of experts in the oil and gas sector.
The conference is organised to provide an opportunity for the experts to brainstorm and network on issues and challenges facing the sector.
Baru, who was represented by Saidu Mohammed, NNPC Chief Operating Officer, Gas and Power, said that several Nigerians were unaware that the corporation had long been part of Nigeria’s power sector.
“We (NNPC) supply about 1,000 megawatts of power from the two power plants at Afam and Okpai.
“These are the most reliable power plants in Nigeria and they provide the cheapest source of power for Nigerians.
“Before that, we had been talking to our joint venture partners notably Chevron and Total to build similar power plants at Obite and Agura.
“But these companies are yet to build the plants; that is why we are in Houston to invite investors to build power plants in Nigeria,” Baru said.
The GMD said that officials of NNPC were also in Houston to invite companies who have the capacity and competencies to come to Nigeria to invest in the power sector.
He added that Nigeria’s participation in the conference was also aimed at increasing the nation’s gas reserve and to enhance the capacity of Nigeria Petroleum Development Company.
Baru said that the NNPC had a target to raise the production level of NPDC within the next two years.
He said, “Essentially we want to raise the production capacity of NPDC to about 700,000 barrels with the support of other partners.’’
He said that NNPC participated in the conference to solicit for capital, advanced technology and partners to invest in Nigeria’s power sector and transform the corporation to achieve set goals.
On March 29, Baru disclosed that NNPC was already working on a project to generate 4, 000 megawatts of electricity.
He said that the corporation was exploring the possibility of investing in the transmission segment of Nigeria’s power sector.
He said that contrary to the impression that the poor power situation in Nigeria was caused by inadequate gas supply; the real problem was inadequate transmission capacity.
According to the GMD, the corporation has enough gas to generate 8, 000 megawatts of electricity.
“But the transmission grid will not be able to support such volume of power without complications.’’