Group CEO of NNPC Ltd, Mele Kyari has reiterated the company’s commitment to resolving Nigeria’s energy trilemma, by ensuring energy security, sustainable Growth and energy affordability.
In a press statement issued by the Chief Corporate Communications Officer NNPC Ltd. Olufemi O Soneye.
Kyari disclosed this at the opening ceremony of the 42nd Nigeria Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition.
Themed: “Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth and Affordability” in Lagos.
The GCEO, who was the Special Guest of Honour at the occasion, also said the company has perfected plans to deliver 12 Compressed Natural Gas (CNG) Mother Stations and Mini LNG Plants soon, as part of efforts to boost the existing 1.6bscf of gas Supply for domestic market.
“The energy trilemma is a profound responsibility we shoulder as stewards of Nigeria’s energy future. NNPC Ltd is working tirelessly to improve our supply chain, Develop new refining capacities and expand our retail network,” Kyari stated.
According to him, NNPC Ltd is set to collaborate with private refineries to ensure affordable and sustainable petroleum products supply; Naira-for-crude transactions in order to stabilize the local currency and regulate forex markets.
This, he added, will bring about expansion of gas infrastructure such as the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the Obiafu-Obrikom-Oben (OB3) Gas Pipelines projects and the development of cleaner energy options, such as Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG).
“Currently, NNPC Ltd supplies over 1.6 billion standard cubic feet (bscf) of gas per Day to the domestic market through infrastructure we either own outright or Operate with partners.
This distribution network is entirely managed on NNPC Ltd.’s Balance sheet,” Kyari added.
Explaining that the Company is expanding its efforts to enhance domestic energy access, the NNPC Ltd helmsman said the next 3-6 months will see significant project launches, including CNG mother stations, mini-LNG plants and additional CNG daughter stations.
Kyari, commended President Tinubu’s efforts to relieve forex pressures by reducing fuel imports and strengthening Nigeria’s local refining capacity, emphasized on the need for collaboration, innovation and technology in achieving Nigeria’s energy goals.
“Resolving the energy trilemma requires bold ideas, shared knowledge, and Collective determination.
Together, let us build a Nigeria where energy is secure, Sustainable, and affordable for all.”
On NNPC Ltd’s mandate to guarantee energy security as stipulated by the
Petroleum Industry Act, Kyari said the Company has fostered partnerships and Investments aimed at enhancing local production and generating revenue for Economic diversification.
Reacting to claims that NNPC Ltd is sabotaging the efforts of domestic refineries, Kyari said the NNPC Ltd is part-owners of the Dangote Refinery, stressed further that such investment is a strategic move aimed at strengthening domestic fuel Supply.
