The Nigerian National Petroleum Company Limited (NNPC) yesterday highlighted the role its over $1 billion investment in the 650,000 barrels per day Dangote Refinery formed a critical pillar of support for the facility located in Lagos.
Speaking at an Energy Relations Stakeholder Engagement in Abuja, the Chief Corporate Communications Officer of the national oil firm, Olufemi Soneye, said that the crude oil-backed loan was even more important, given that at the time, Nigeria had serious liquidity challenges.
Stressing that the Mele Kyari-led NNPC had achieved ‘groundbreaking milestones’, redefining the trajectory of Nigeria’s oil and gas sector, Soneyeexplained that the restart of the Port Harcourt Refinery marked a significant turning point in Nigeria’s quest for energy self-sufficiency.
According to him, the development also reaffirmed the company’s commitment to revitalising the nation’s refining capacity.
In addition, the NNPC spokesman noted that the company NNPC has also championed the adoption of Compressed Natural Gas (CNG) as an alternative energy source, offering Nigerians a cleaner and more cost-effective solution amidst rising global energy costs.
