Nigerian National Petroleum Company (NNPC) Limited has announced that the Ajaokuta-Kaduna-Kano gas pipeline is 70% complete.
Gatekeepers News reports that NNPCL made the announcement via its Twitter account on Monday,
“Earlier today, the Group Chief Executive Officer, Mele Kyari on an inspection tour of one of the AKK gas pipeline project sites in Ahoko, Kogi State said the project is almost at 70% completion with over $1.1 billion so far released to finance the project.”
The company quoted Mele Kyari, as saying: “The AKK gas pipeline is one massive project we are running as NNPC Limited. It has immense value for Nigeria & its socio-economic growth. The project has not stopped for one day. We have continued to fund it despite the absence of third-party financing.”
“We have so far spent over $1.1 billion on this project from our cash flow. We are a commercial company today. We have inter-company laws within our company now. This company can fund this project, so we do not need any support to deliver this project now.
“As we speak now, we don’t owe a dollar to our contractors today. We paid all their invoices. There are over 30 active sites today in this project, and we are very hopeful that we will deliver this project.”
When complete, the AKK gas pipeline project would boost the agricultural and manufacturing sectors, carbon footprint as part of measures to cut down on global warming and provide gas for the generation of power and gas-based industries.
