The Nigerian National Petroleum Corporation, NNPC has said that it will construct a Fertilizer Plant in Brass, Bayelsa State. The corporation also stated its readiness to build additional independent power plants, IPP in Abuja, Kaduna and Kano and the project is expected to generate about 4,000 megawatts of power to stabilize the national grid.
This was made known by Chief Financial Officer of NNPC and Chairman of the Board of NNPC Power subsidiary, Gas and Power Investment Company (GPIC),
According to the corporation’s General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, the GPIC was established as a subsidiary under the Gas and Power Directorate to enable the corporation monetize the abundant gas resources in the Country for the benefit of the nation’s economy.
Abdulrazaq said, “The Gas and Power Investment Company Limited (GPIC) is a company which the NNPC has set up basically to focus on how it can create value and monetize the nation’s abundant gas resources. The company will also be focused on developing power stations, fertilizer plants as well as petrochemical plants across the states”.
He further noted according to the Nation that NNPC set up the board to enable the company to achieve its set targets within a very short period of time, saying the board meeting had mapped out strategies to properly guide the company to enable its Key Performance Indicators, KPI.
He said the setting up of the company would add value in terms of payment of taxes and generating more revenue for the country, stressing that the company and all the IPPs that would emanate from it would also generate more job opportunities for Nigerians.
He explained that the Fertilizer Project in Brass, Bayelsa State would produce fertilizer to boost agriculture in the South-South and other regions of the Country. Speaking in similar vein, the Chief Operating Officer, Gas and Power, Engr. Saidu Mohammed, stated that the coming on stream of GPIC would help the NNPC transform into an integrated energy company with the production of 4,000 megawatts of power at strategic locations.