The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL Ltd), Bayo Ojulari has said that the Ajoakuta-Kaduna-Kano pipeline project will not only open up the economy but it will also lead to massive industrialisation.
Ojulari said this when the management of the Nigeria Extractive Industry Transparency International (NEITI) led by its Executive Secretary, Oji Ogbonnaya Oji, paid him a courtesy visit Thursday in Abuja.
“The AKK you mentioned is one of the major game-changers for Nigeria because we believe that will open up, people think about it as just a pipeline, but the gas that is coming through and the number of industries that will spin off from that is something that we are really, really proud of.
“We hope that the economic impact for Nigeria will be quite significant. So we’re not just working on the pipeline. Our gas and new business team are actively engaging the market already.
“We’re engaging customers, off-takers, and helping them to put structures in place to ensure that it’s not about the gas line, it’s about the growth of the businesses, both in terms of power, industrial parks that are going to come off on the back of AKK alone.
“In addition to that, we’re looking at further expansion, as you know, which is supplying the whole western zone, and all the industrialisation around Lekki and other parts of the South West. All of those are part of what is in the works to ensure that our work truly impacts society and the impact can be felt,” he said.
The GCEO further said the company will continue to strive to sustain the country‘s crude oil production.
According to NNPCL in its monthly report for July, the country’s crude oil and condensate rose to 1.70 million barrels per day in July, exceeding the OPEC production quota of 1.5mbpd.
In terms of our own aspirations, of course, you saw the mandate we got from the president around when we were appointed, around growing oil production to 3 million barrels per day by 2030. Growing gas production to a minimum of 20 billion cubic feet per day by 2020. Our aspiration is to beat that target on the gas.
Speaking earlier. NEITI’s Executive Secretary said it would support NNPC Ltd in its on-going reforms that will further position it for growth.
“I’m confident that under your leadership, sir, NNPC Limited will continue to drive reforms and set the benchmark for current governance in Africa’s extractive industry,” he said.
Oji, said that only multi-stakeholders collaboration on issues in the oil and gas sector is the way to go if the company is to achieve the desired result.
“Our appeal, therefore, is for a closer working relationship with the NNPC Limited and NEITI, anchored on openness, compliance, and responsiveness to multi-stakeholder concerns. Together with civil society, industry, and government, we can consolidate indigenous leadership of Nigeria’s oil and gas while sustaining an environment for global investors. This collaboration is essential for job creation, domestic resource mobilization, and ensuring that Nigeria’s natural resources remain a source of pride, sovereignty, and sustainable development,” Oji said.