The Nigerian National Petroleum Corporation (NNPC) and the US Trade and Development Agency (USTDA) have signed a $1.16m grant as part funding for the NNPC-Abuja Independent Power Project (IPP).
The IPP is modelled to generate 1,350 megawatts of electricity to alleviate the power challenge in the country, a statement from the oil company said.
The Grant Agreement (GA) was signed on Monday by the MD of the NNPC Gas & Power Investment Company (NGPIC), Hussain El-Yakub and USTDA’s Director Thomas Hardy. The NNPC will work with US firms GE and Continuum Associates to deliver the Project.
According to the NNPC GMD Mele Kolo Kyari, who witnessed the signing of the agreement alongside U.S Ambassador to Nigeria Mary Beth Leonard, the project is an important one for NNPC because it will not only boost Nigeria’s gas-to-power aspirations, it is also another positive step towards utilizing Nigeria’s abundant gas resources.
The US envoy also said “This outstanding project will now join dozens of other high-profile energy sector projects that USTDA is supporting across the country.”