NNPC, in line with its plans to become an integrated energy company, plans to enter into the power generation and transmission sector.
The Nigerian National Petroleum Corp. (NNPC) Group Managing Director Maikanti Baru stated that the company plans to convert “from an oil and gas company into an integrated energy outfit with added interest in power generation and transmission.”
“The NNPC’s “decision to diversify into the power sector was hinged on the need to bridge the huge energy gap in the Nigerian market,” Baru added in the statement.
NNPC’s entrance into the sector will take a bit of investment but no details were provided on where those investment funds would be coming from. Baru offered no time table for the execution of NNPC’s plans either.