MARITIME

Ajaokuta-Kaduna-Kano Pipeline Gas Project Nears 70% Completion, Says NNPCL

 

Nigerian National Petroleum Company Limited has revealed that the ongoing Ajaokuta-Kaduna-Kano Pipeline Gas project is nearing completion.

On Monday, the Group Managing Director/Chief Executive of the national oil company, Mallam Mele Kyari led some management team to inspect the project.

Kyari who inspected the AKK Gas Pipeline project sites in Ahoko, Kogi State said the project is almost at 70% completion, with over $1.1bn so far released to finance the project.

Speaking with newsmen during the tour, Mallam Kyari said “The #AKKGasPipeline is one massive project we are running as NNPC Limited. It has immense value for Nigeria & its socio-economic growth. The project has not stopped for one day. We have continued to fund it despite the absence of third-party financing.”

“We have so far spent over $1.1bn on this project from our cashflow. We are a commercial company today. We have inter-company loans within our company now. This company can fund this project, so we do not need any support to deliver this project now.”

“As we speak now, we don’t owe a dollar to our contractors today. We paid all their invoices. There are over 30 active sites today in this project, and we are very hopeful that we will deliver this project”

ALSO READ  AFCON: APC National Youth Leader, Dayo Israel Hosts Match Viewing Party 

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button