Story by Michael Faloseyi
Gas and Power Investment Company, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), on Friday September 29, 2017 received the assurances of the Nigerian Electricity Regulatory Commission (NERC) in realising the company’s mandate to generate 4,000 Megawatts.
The Managing Director, Engr. Hussaini El-Yakubu in company with some of his management during a courtesy visit solicited the Commission’s cooperation to achieve the mandate of diversifying the parent company’s investment profile beyond oil and gas to power generation.
El-Yakubu said that his company has three categories of power plants projects to achieve its diversification objective. These categories include joint venture independent power projects with the international oil companies; strategic power plants; and those termed as optimisation projects.
He listed projects under Joint Venture Independent Power Production as the Nigeria Agip Oil Company power and Shell Petroleum Company; strategic power plants include those along NNPC pipeline at Gwagwalada and Kaduna; while optimisation project include the Ogidigben power plant.
The Managing Director, however, hinted that the most pressing of the project was the phase two of the Opkai Power Plant with its joint venture partner, Nigeria Agip Oil Company (NAOC). The project’s delivery date was recently negotiated with NAOC by the Federal Government from 24 months to 17 months that will elapse December 2018.
The development has subsequently put Gas and Investment Company under pressure and it is therefore, trying its best including guiding NAOC through scaling NERC regulatory hurdles to achieve the new delivery date.
Giving the Commission assurance, Commissioner Finance and Management Services, Mr. Nathan Rogers Shatti, who stood in for the Vice Chairman said, “This is a welcome development. Our desire at the Commission is to see improvement in power generation, transmission and distribution.”
“Getting your licence from the Commission should not be an issue. Our regulation provides that a licence could be processed and issued within six months if an applicant follows the guidelines and submits all the necessary documents. And in your own case you have done this before with phase one of Okpai power plant.”
“It is also very important that we know your timelines and you keep to those timelines. The Commission is committed to make this industry work,” Shatti assured.
NNPC Subsidiary solicits Commission's cooperation om power projects
Story by Michael Faloseyi