…As Corporation looks to sell excess energy to TCN
Oscarline Onwuemenyi 10 September 2015, Sweetcrude, Abuja – Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Kachikwu has disclosed plans to construct a second refinery close to the present one in Warri, Delta State.
Kachukwu who was upbeat about the prospects of the Warri Refinery meeting the 90 days ultimatum for full production, said the plans to create an additional refinery in Warri will take shape in a few months’ time.
He explained that the building of the second refinery would not be a cumbersome arrangement, adding that the new refinery would share infrastructural facilities with the existing one and as such is not one gigantic project that will gulp lots of money.
Apart from the fact that it will ensure healthy competition with the existing one, he said it will generate a lot of job opportunities that will take youths off the streets.
Kachukwu who also spoke on the 90-day deadline given to the Warri Refinery to optimise production, explained that the resuscitation of the refineries is not only for the one in Warri, but for all three refineries.
He expressed optimism that the three refineries will be fully operational before the end of the year. According to him, the staff on ground have the right mind-set and has promised to assist them meet the deadline in any way possible.
“Even if it requires that I borrow money to bring the refineries on track, I will do it,” he said.
Kachikwu dismissed insinuations that there might be job loss, saying on the contrary, when the refineries become operational there will be no need for that.
Meanwhile, the NNPC has said it will sell unused energy to the Transmission Company of Nigeria (TCN) for onward transmission to the National Grid.
Kachukwu, who made this known during a meeting with some journalists in Abuja, disclosed that only 15 per cent of the energy generated by the corporation is actually used.
That means that electricity supply will get a boost when it sells the unused 85 per cent to the transmission company.
Kachukwu made it clear that, henceforth, it will no longer be business as usual as he is set to turn the corporation into a profit making one that will support government. The new helmsman said all forms of wastefulness will no longer be tolerated as every kobo matters.
Already, the federal government is shopping for N15 billion annually to generate 8,000 megawatts of electricity in the next three years, the transmission company said.
Acting Managing Director, TCN, Atiku Abubakar, who confirmed this to journalists, said it would be engaging 30 local and foreign investors in its bid to raise the funds to aid the expansion of the country’s power transmission infrastructure.
He added that the Company would be engaging the investors in its financing scheme whose capabilities in terms of technology and finances had been duly ascertained.