NNPC, NERC chart investment path for power generation

Nigerian National Petroleum Corporation (NNPC) in a renewed collaborative drive to strengthen investment in Power generation is out to foster cooperation with Nigerian Electricity Regulatory Commission (NERC) to fast track licences for power plants.

Andrew Yakubu, Managing Director, Gas and Power in the NNPC group while speaking during a visit to NERC office said the visit presents an opportunity to share the vision and mandate of investment in power generation.
Yakubu said the visit is also important because the NNPC group seek cooperation with NERC to fast track applications for licences for some of its power plants.
He explains that the NNPC group is under pressure to fulfil its mandate to complete phase 2 of its Okpai power plant.
According to him, NNPC is leveraging on its gas assets and Joint Venture (JV) with International Oil Companies (IOCs) to diversify into power generation.
Yakubu stated that NNPC will replicate its success story with Nigeria Liquefied Natural Gas JV with IOC in its investments in power.
Nathan Rogers Shatti, Commissioner, Finance and Management Services of NREC in his welcome remarks assured the NNPC group delegation that their request will be favourably considered.
He assured that NERC was working through challenges of the power sector with the operators to find lasting solution.
He said that NERC is careful that licences are issued to those investors who are ready to realise its economic values.
Shatti said NERC was ready to support their initiatives provided they meet the requirements for licence.

He further advised that NNPC should clearly state its timelines on each of its projects to NERC.

KELECHI EWUZIE