Divestments: Our role is to ensure Nigerians reap benefits of oil sector, not hinder investments — NNPC Ltd
Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd) has harped on the role of the National oil company as a body committed to ensuring Nigerians reap the gains of the nation’s investment in the oil and gas sector.
Speaking at the opening ceremony of the 7th edition of the Nigerian International Energy Summit 2024 (NIES 2024), which held at the State House, Abuja, on Tuesday, Kyari noted that NNPC Ltd as the largest partner to all the oil producing companies in Nigeria, has assured that its role in the divestment of the International Oil Companies from onshore and shallow water assets in the country is that of a facilitator, and not an obstacle.
He explained that by virtue of its statutory mandate as the enabler of national energy security, NNPC Ltd.’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.
Kyari 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, the GCEO further disclosed 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 work 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 event saw the participation of key industry and governmental figures, including Haitham al-Ghais, Secretary-General of OPEC; Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers’ Organization; Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil); Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas); Amb. Nicholas Agbo Ella, Permanent Secretary of the Ministry of Petroleum Resources; and the Minister of Information and National Orientation, Mohammed Idris Malagi, who represented the Nigerian President, Bola Ahmed Tinubu.
