NNPC director harps on benefits of Nigeria-Niger petroleum pipeline project
• Says Nigeria To Save $500m From Importation At Completion
Nigeria National Petroleum Corporation (NNPC) has explained that by the time the ongoing project designed to link crude by oil pipeline from Niger Republic to Kaduna refinery plant, it will save the nation more than $500m spent on the importation of refined petrol from overseas.
Both countries are said to be expediting action on the preliminary design of the pipeline product for which about 90 percent of the construction cost will be borne by Niger Republic, while Nigeria will provide the balance to embark on production of refined petroleum products for both countries on commercial basis.
Director, in the Board of the NNPC, Mallam Muhammed Lawal, told The Guardian that the Nigeria-Niger Republic pipeline project is a top priority project for the present administration, saying it is expected to resolve most of the nation’s crisis and a source of revenue generation for the country when completed.
Lawal said although our refineries are down due to so many years of negligence, the administration of President Muhammadu Buhari came up with the novel idea, which could save the country a lot of money.
He said: “So this pipeline is going to be a project that would be handled based on and premised on commercial viability to our country and Niger Republic. Nigeria is going to benefit a lot from it because the pipeline is going to be mostly funded by Niger.
“Our country to will benefit tremendously because our refinery in Kaduna is going to be functional, more employment will be generated for our people, technology will also be enhanced at the Plant.”
No Comments yet