The Nigerian National Petroleum Company Limited has stated that the $2.8 billion Ajaokuta-Kaduna-Kano gas pipeline project being built by Oilserve Limited will be launched next month.
According to The Punch, the Executive Vice President, Upstream, NNPC Limited, Oritsemiyiwa Eyesan, made this revelation on Tuesday at the 41st Nigeria Association of Petroleum Explorationists 2023 expo, which is currently taking place in Lagos.
Eyesan added that the company’s dedication to Nigeria’s Gas Master Plan was demonstrated by its commitment to completing the project by the end of December, during her speech at the Management Session with the theme “Energy Infrastructure Development, Financing & Monetization Strategies in Nigeria: Reducing the Risks of Entry.”
“You will see a significant change in our operations in the upcoming months as NNPC is prepared to attract additional investments in the oil and gas industry. The AKK gas pipeline, which will be put into service in December, is one of these significant investments,” she stated.
The announcement follows the pledge made by State Minister of Gas, Ekperikpe Ekpo, during the October Pai River crossing meeting in the Kwali Area Council of the Federal Capital Territory, Abuja.
He stated that by July of the following year, the 614 km project would be completed.
The NNPCL is building a 614 km pipeline called the AKK pipeline to move natural gas from southern to central Nigeria.
Insecurity was one of the factors contributing to the project’s delay, according to Ekpo, who also stated that while investors were eager to contribute to the project, they preferred an investment that would generate profits right away.
She suggested that the Federal Government stabilize the naira in addition to tackling the nation’s financial and security issues.
The Minister emphasized that in order to stimulate investment, the government must shorten the contract circle and draw in managers of contemporary technologies.