IOC’s divestment: We facilitate, not hinder process, says NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) says its role in the divestment of International Oil Companies (IOC) from onshore and shallow water assets in the country is that of a facilitator and not an obstacle.

The Group Chief Executive Officer of NNPCL, Mele Kyari, said this at the opening ceremony of the 7th edition of the Nigerian International Energy Summit 2024 (NIES 2024) at the Presidential Villa in Abuja on Tuesday, February 27.

Kyari explained that by its statutory mandate as the enabler of national energy security, NNPCL’s role is to ensure that, at the end of the day, there is optimal and sustainable production from the divested assets to guarantee energy security for the benefit of Nigerians.

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The NNPCL boss also disclosed the company’s willingness to invest in the proposed African Energy Bank as a way of ensuring sustainable funding for energy projects in Africa to guarantee energy security.

On investment in energy infrastructure to drive energy security, Kyari added that the completion of the Obiafu-Obrikom-Oben Pipeline was in sight as the tunnelling across the River Niger was currently ongoing.

He assured stakeholders of the company’s commitment to working with them to close the energy deficit gap and create prosperity for Nigerians, adding that from all indications, all issues of energy scarcity in the country would be over in the next 10 years.

The Star