Chineme Okafor in Abuja
The Nigerian National Petroleum Corporation (NNPC) on Monday disclosed that it will invest about $15 billion to build gas-based power plants with combined generation capacities of 4,000 megawatts (MW) across the country over the next 10 years.
It said three of the power plants with combined output capacity of 3,100MW would be built in Abuja, Kaduna and Kano, along the route of its Abuja-Kaduna-Kano (AKK) gas pipeline currently under construction, and from which gas supplies to them would be guaranteed.
It also stated that as part of the business model for the construction and operation of the power plants, Incorporated Joint Venture (IJV) companies involving the NNPC, international power companies and other Nigerian investors would be set up in this regard.
The IJVs, NNPC said, would be structured after the current business model used by the Nigerian Liquefied Natural Gas (NLNG) Limited.