The Nigerian National Petroleum Company Limited claims it has spent more than $1.1 billion of its cash flow on the ongoing development of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline and station project.
NNPCL CEO Mele Kyari made the announcement on Monday while touring some of the company’s project sites in Kogi with journalists and other stakeholders.
Mr Kyari was accompanied by key officials from NNPCL and Oilserv Limited (the project’s contractor). He stated that the corporation would continue to pay the large project, which is delivered in phases and has been operational despite the lack of third-party financing.
“So far, NNPC Ltd has funded over $1.1 billion on the project, and to date, none of the project activities have been abandoned as reported, and we reassure all stakeholders that we have a clear path to project completion on time,” the NNPCL CEO explained.
Mr. Kyari went on to say that the national oil company “remains highly committed to the delivery of strategic national infrastructure projects through responsive project delivery, active collaboration with government security agencies and communities, and the deployment of technology for project delivery.”
He stated that “this is one of the most massive projects of proportional value to our country for economic growth,” and that it “is a must-deliver project that we have continued to fund despite the lack of third-party finance support.”
“We will complete this project,” he said again. “We owe nothing to our contractors.” This project currently has almost 30 sites operational. “We are very hopeful and optimistic about completing this project.”
Mr. Kyari expressed concern about the project’s workers’ insecurity. He acknowledged that some construction workers had been slain, expressing sorrow and consoling their families.
He stated that 70% of the welding was completed and that gas might begin to flow through the pipeline once the welding was completed. The pipeline would transport two billion cubic feet of gas, supplying energy to industry, fueling power plants, and generating new gas-based industries.
The welding, according to the NNPCL president, will be done by the third quarter of 2023. The gas pipeline is expected to support 3,645 megawatts of power units. The Abuja-Kaduna power plants’ construction will begin soon.
(NAN)
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