The Nigerian National Petroleum Company Limited #NNPCL says the construction of the Ajaokuta-Kaduna-Kano Gas Pipeline (AkK) has caused the company 1.1 Billion Dollars.
Speaking during the inspection of the facility in Akoho village, around the Lokoja end of the gas pipeline project in Kogi State, The Group Chief Executive Officer, NNPC Ltd, Mallam #MeleKyari said the pipeline will be energized by the third quarter of this year
The Group Chief Executive Officer, NNPC Ltd, Mallam Mele Kyari said the NNPCL has been funding the Ajaokuta-Kaduna-Kano Gas Pipeline (AkK) project without a third party financier, he said the project is at 70 percent completion stage.
Mallam Kyari said upon completion, the AKK Pipeline will bring immense proportion value and socio economic growth to the country.
The NNPCL Helmsman explained that the company can fund the project as it’s-now a commercial company with inter company loans.
He said, The NNPCL do not need any support as it’s capable of funding the AKK Project.
The Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and Stations Project is a flagship project that will further deepen the integration of the Northern region of the country with the Niger Delta, Eastern and Western regions of the Country.
The pipeline can transport two (2) billion standard cubic feet of natural gas per day to three (3) proposed independent power plants in Abuja, Kaduna, Kano, and other gas-based industries as well as other identified and proposed commercial off-takers along the entire pipeline route.
According to the NNPCL the project has the potential to greatly improve the Nation’s power generation capacity and the economy as a whole through industrialization as well as other economic uses.
AKK pipeline was flagged off in June 2020 by President Mohammadu Buhari.
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