The Federal Government, Tuesday, secured a grant of over $1 million from the U.S. government for a power plant project.
The money is expected to be spent on the 1,350 megawatts Nigerian National Petroleum Corporation (NNPC) Abuja Independent Power Project.
According to Reuters, the U.S. Trade and Development Agency, USTDA and the NNPC Group Managing Director, Mallam Mele Kyari signed the agreement on Tuesday in Abuja at the ongoing Nigeria International Petroleum Summit (NIPS) in Abuja.
Kyari said the plan by the corporation to build the 1,350mw power plant in Abuja was part of the national strategy to monetize the abundant natural gas resources in the country. T
The USTDA grant will complement the ongoing feed project in order to make the Abuja IPP initiative more bankable for strategic investors’ participation.
The Abuja 1,350mw Independent Power Plant (IPP) project would leverage on the existing huge natural gas resources from the NNPC upstream and the proposed AKK gas pipeline.
The project would sit on a 54.7 hectares of land in Dukpa in Gwagwalada Area Council of the FCT.
