NNPC Wants To Partner Private Businesses To Build More Pipelines
Nigeria state owned oil company, the Nigeria National Petroleum Corporation, NNPC needs help with more pipelines across Nigeria.
And the Group Managing Director of the Corporation, Maikanti Baru is asking private investors to come and help repair and build pipelines.
Of course, you know how important crude oil sales is to Nigeria. Crude oil sales make up two thirds of government revenue, and more pipelines would enable it to export more oil.
Baru told the new board of downstream subsidiary Nigerian Pipeline Storage Company (NPSC) that the company should form partnerships with the private sector and double the number of its pipelines over the next 10 years.
“Your work also is to look at refurbishing these pipelines and storage along a Public Private Partnership (PPP) arrangement by getting willing private companies to invest in these pipelines,” Baru said at a ceremony to inaugurate the NPSC board.
NNPC owns and operates gas pipelines which feed power plants in the country.
Baru also said NNPC is ready to engage security agencies to protect pipelines against acts of economic sabotage.
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