NNPCL expenditure on AKK pipeline hits $1.1billion

The Nigerian National Petroleum Company Limited (NNPCL) has so far spent $1.1billion on the $2.5 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline project.

Group Executive Officer, Nigerian National Petroleum Company Limited (NNPCL), Malam Mele Kyari, broke the news to reporters at Ahoko Gbagyi, Kogi State yesterday.

According to him, “So far, NNPC has funded over $1.1 billion on the project and to date none of the project activities are abandoned as reported and we reassure all stakeholders that we have a line of sight to project delivery on schedule.”

He also said the project would support electricity generation with a total of 3,600MW aside triggering support for the industrial and commercial customers on the corridor of the pipeline.

“There is a 1,350MW power plant to be supported by the project in Abuja. And there is 900MW in Kaduna to be supported. And, ultimately, another 1,350MW to be supported in Kano.

Kyari recalled that concurrent with the financing deal, NNPCL commenced pre-funding the project, which led to the kick-off of the construction by President Muhammadu Buhari on June 30, 2020.

NNPCL, according to him, is committed to the delivery of strategic national infrastructure projects through responsive project delivery, active collaboration with government security agencies and communities as well as deployment of technology in the form of human and technical intelligence for surveillance along the Right of Way to enable us to realize the timely delivering the AKK Project for the benefit of Nigerians. 

He explained that Buhari had made it a priority to ensure that revenue from oil and gas resources are utilized to support the emergence and growth of other non-oil sectors.

Source- The Nation Newspaper.

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