– Signs 50MW NIPP deal with GE, China company
OpeOluwani Akintayo
Abuja — The Nigerian National Petroleum Company, NNPC will divest some of its assets in preparation for the official debut of the NNPC Limited in July 2022, SweetcrudeReports has learnt.
Sources close to the matter told this newspaper that the sale is towards generating more funds for the new company, NNPC limited.
The state oil firm is already in talks with the Bureau of Public Enterprises, BPE over its intention.
“The company’s account is about to be audited. After that, the sale and divestments will take place,” our source who begged not to be named disclosed.
SweetcrudeReports had on Sunday, reported NNPC’s planned official debut in July 2022, https://sweetcrudereports.com/nnpc-limited-to-officially-debut-in-july-2022/, and afterwards, its intention to get listed on the Nigerian Stock Exchange, NSE.
Mele Kolo Kyari, Managing Director and CEO, NNPC Limited had last week, paid a courtesy visit to BPE, where he met with the Director-General, Alex A. Okoh.
According to our source, the planned audit would be carried out by renowned and reputable audit firms.
“The NNPC has huge assets, so the audit will be contracted to more than one firm,” he added.
The source did not specify which of the assets will be sold.
The NNPC, now NNPC Limited on behalf of the government, has been a huge player in the oil and gas sector.
Its subsidiary, Nigerian Petroleum Development Company, NPDC on its behalf, has assets and interests on land, swamp, continental shelf and deep waters- offshore, onshore, and swamp assets.
Meanwhile, the firm has signed a 50megawatts Nigeria Integrated Power Plants, NIPPs contract with China Machinery Engineering Company, CME and General Electric, GE.
The deal, we learnt, is for provision of electricity to Maiduguri, Borno state.
Mele Kolo Kyari, Managing Director and CEO, NNPC Limited had severally disclosed intention of the company to boost power supply in the country.
SweetcrudeReports also learnt that NNPC Limited has shown interest to acquire some NIPP plants.
However, BPE has said the assets would not be sold automatically to the firm, as a level playing ground will be given to other bidders to compete.
The BPE, we learnt, is on the verge of notifying the National Council on Privatisation, NCP on NNPC Limited’s interest.
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