The Group Managing Director of
the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru on Friday
called on foreign investors to partner with the corporation in its
multi-billion dollar projects.
Baru made the call in a statement
issued by Mr Ndu Ughamadu, NNPC Group General Manager Public Affairs Division.
The statement said that Baru
spoke at an event in London where he was conferred with a Forbes Award.
Baru said the corporation would
execute a number of mega projects which would require international
collaboration.
“Our programme for 2018 is very
aggressive and will require cooperation from the international community in
supporting our activities through technical and financial collaboration,’’ he
said.
He listed some of the projects
that would be executed to include: Bonga SW/Aparo; Zaba-Zaba; Bosi and the
seven critical gas projects and gas pipelines.
“Others are the NLNG Train 7 plus
expansion; possible divestment of Government Equity in Joint Venture (JV) and
development of modular refineries among others.
“Today, the confidence of
investors is being restored, thanks to good governance provided by the
administration of President Muhammadu Buhari.
“I, therefore, call on you all to
utilise this golden opportunity made possible by our supportive President,’’
Baru said.
He said that international collaboration
between the NNPC and its partners was fast yielding results as within the last
three years, NNPC had secured about 3.7 billion dollars alternative financing
agreements.
This agreement, he said, was
aimed at sustaining and increasing the national daily production of petroleum
products.
He said the alternative financing
had also helped to renew investors’ confidence resulting in a boost in Foreign
Direct Investments (FDIs) in Nigeria.
Baru observed that the financing
arrangement had also deepened the participation of local banks in funding the
upstream sector as the funds were syndicated from both local and international
banks as well as lenders.
He commended the local and
international lenders and the JV partners for their continued faith in Nigeria
and their support toward providing the funding.
Baru also commended Forbes for
the “2017 Africa Oil & Gas Man of the Year Award’’ conferred on him, and
described the recognition as not only special to him, but to all Nigerians.
“This award is so special to me.
It is an award to Nigeria which fills me with immense national pride.
“It also reinforces the
long-established and far-reaching impact of the NNPC in national, regional and
global economic growth and stability,” he added.
While conferring the award on
Baru, a representative of Forbes, Mr Mark Furlong, said his institution was
celebrating an embodiment of hard work, integrity and intelligence in Nigeria’s
oil and gas industry and beyond.
“Dr Baru is admired and
celebrated nationwide and internationally. He is a credible and courageous man
with high moral virtue.
“His broad knowledge and positive
leadership style are worthy of emulation,” Furlong added. (NAN)
Weldone sir.may God continue to lead you..
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