The Nigerian National Petroleum Corporation (NNPC) will soon begin supplying Nigeria with electricity it generates as it unveiled its plan to go into power generation and transmission.
Disclosing this was Group Managing Director of NNPC, Dr Maikanti Baru, at the 53rd International Conference and Exhibition of the Nigerian Mining and Geosciences Society (NMGS) in Abuja.
Baru, who delivered a paper entitled, “Challenges and Prospects for the Diversification of the Upstream, Downstream and Frontier Basin Exploration in the Oil and Gas Sector”, disclosed that NNPC is already cashing in on the opportunity in power sector, adding that the corporation is gradually transforming from being a gas supplier to the power sector, into a major player in the sector.
He said work is underway in the corporation to generate four Megawatts (4MW) of electricity while also exploring the possibility of investing in the transmission segment of the power sector.
The GMD debunked claim that the prevailing poor power situation was due to inadequate gas supply.
According to him, the major problem was inadequate transmission capacity. He explained that the transmission grid could not support such volume of power without complications.