Nigeria's state-run oil corporation has concluded plans to build independent power plants to boost power supply in the country, an official said Monday.
The power plants, which would be built with Joint Venture Companies, international power companies and Nigerian investors, would be structured after the Nigerian Liquefied Natural Gas business model, Saidu Mohammed, Chief Operating Officer of the Nigerian National Petroleum Corporation (NNPC), said in Abuja.
The corporation will generate about 4,000 megawatts of power in the next 10 years to boost power supply in the country, he added, noting that power generation is a big business.
"As at today, NNPC has interest in two power plants, one in Okpai, Delta State and the other in Afam, Rivers State," he added.
"Both were built by joint ventures with Nigerian Agip Oil Company and Shell Petroleum Development Company," he said.
"These two power plants collectively generate up to 1,000 megawatts and they are the most reliable and cheapest source of power to the national grid in Nigeria today," Mohammed said.
Mohammed said in order to make up the 4,000 megawatts, plans were underway to build Okpai Phase 2, Obite and Agura power plants to boost power generation in the country.
He said the corporation had commenced the extension of its major gas pipeline infrastructure on Ajaokuta-Abuja-Kaduna-Kano axis and other robust network to connect various parts of the country.
He said the corporation had developed capabilities in processing, transportation and marketing of gas for export and domestic utilization, adding that the nation's gas resources could change Nigerian economy for the better. Enditem