Fuel shortage to end in 10 years – NNPCL

PLACE YOUR ADVERT HERE

The Nigerian National Petroleum Company Limited (NNPCL)  has assured Nigerians that the country’s energy scarcity will be over in the next ten years.

Mele Kyari, the NNPCL Group Chief Executive Officer, revealed tnis at the seventh edition opening ceremony of the Nigerian International Energy Summit held in Abuja.

A statement issued by the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, assured stakeholders of the company’s commitment to work with them to close the energy deficit gap and create prosperity for Nigerians.

He stated that, all issues of energy scarcity in the country will be over in the next ten years.

Kyari prescribed the NNPCL as the largest partner to all the oil-producing companies in Nigeria, assuring that its role in the divestment of the international oil companies from onshore and shallow water assets in the country was that of a facilitator and not an obstacle.

The NNPCL boss said, NNPCL’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.

Kyari also revealed the company’s willingness to invest in the proposed African Energy Bank as a way of ensuring sustainable funding for energy projects in Africa to guarantee energy security.

“On investment in energy infrastructure to drive energy security, the GCEO further disclosed that the completion of the Obiafu-Obrikom-Oben Pipeline was in sight as the tunnelling across the River Niger was currently ongoing,” the statement read.

The event was attended by stakeholders, including the Secretary-General of the Organisation of the Petroleum Exporting Countries, Haitham al-Ghais; Secretary General of the African Petroleum Producers’ Organisation; Omar Farouk Ibrahim; Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri; Minister of State for Petroleum Resources (Gas),  Ekperikpe Ekpo; and the Minister of Information and National Orientation, Mohammed Idris Malagi, who represented President Bola Tinubu.

PLACE YOUR ADVERT HERE

Popular Related

FG plans public engagements on tax reforms

The Presidential Fiscal Policy and Tax Reforms Committee has planned to hold public engagements on fiscal and tax reforms starting in Lagos on Thursday. In...

N200bn Intervention Fund: FG begins disbursement to MSMEs, manufacturers

The federal government has announced the launch of the N200bn Presidential Intervention Fund for Micro, Small and Medium Scale Enterprises and manufacturers in Nigeria. President...

FG sets up committee on the Advocacy for PWD rights

A committee consisting of five members has been tasked with creating a framework for working with the National Commission for Persons with Disabilities to...

NPA secures $700m loan for Apapa, Tincan ports rehabilitation

The Nigerian Ports Authority (NPA) is set to receive a $700 million loan from Citibank, which is to be funded by the UK Export...

Panel sues for peace over fish death at Epe pond

Following the disputes between Renecon Limited, a dredging firm located around Epe Axis and Fish Farmers situated in that same region, over the death...

NDIC raises deposit insurance coverage by 900%

The Nigeria Deposit Insurance Corporation (NDIC) has increased maximum deposit insurance coverage of Deposit Money Banks (DMBs) and Mobile Money Operators (MMOs) by 900...

Kogi workers demand N35,000 wage award payment

The Kogi State Labour chapter has called on the state government to enact the payment of N35,000 to its workers as its new minimum...

Electricity tariff hike looms as FG raises gas price

Following the high cost of living, the Federal Government has again revealed on Monday, that the new price of natural gas for power generation...

NIN-SIM policy: Telcos lose 12m internet subscribers – NCC

The number of internet subscribers decreased from 154,301,195 subscriptions as at December 2020 to 141,971,560 subscriptions as at December 2021 showing an 8 per...

FSD, US Consulate empower 100 entrepreneurs

In an act to foster growth amongst SME's, the Field of Skills and Dreams VTE Academy in partnership with the United States of America...