After Crashing Petrol Prices, NNPC Announces Another Key Project, Sets Completion Date

• The Nigerian National Petroleum Company Limited (NNPC) has promised to deliver the 53MW MEPP project in Maiguduri next year
• The company made the promise when the Minister of State for Petroleum Resources (Oil) Ekperikpo Ekpo visited the site
• NNPC said some critical phases of the project have been completed, while the last one will become functional next year

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The Nigerian National Petroleum Company Limited (NNPC) has promised to complete the 53MW Maiduguri Emergency Power Project (MEPP) next year.

The development was revealed when the minister of state for Petroleum Resources (Gas), Ekperikpo Ekpo, visited the project site.

NNPC promises timely project delivery

Ekpo accompanied Mele Kyari, NNPC Group Chief Executive Officer (GCEO), and Olalekan Ogunleye, the NNPC Vice President of Gas, Power and New Energy.

The state oil firm disclosed on its X handle that the 32MW Simple Cycle phase of the project is already completed and fully operational. The firm said the remaining 18MW Combined Cycle Phase will be operational next year.

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The MEPP project was commissioned last year by ex-President Mohammed Buhari.

The power project aims to provide stable and sustainable electricity to Maiduguri and its environs.

BusinessDay reports that NNPC disclosed that nine years of constant power outages necessitated the MEPP project.

“These outages, caused by vandalism and insurgency attacks on power supply infrastructure, had resulted in a decline in economic activities in the region,” NNPC said.

NNPC crashes petrol prices

Meanwhile, the state oil firm has crashed petrol prices by N20 in Abuja.

Checks reveal that NNPC retail outlets sold petrol to motorists at N1,040 per litre instead of the previous rate of N1,060.

Petrol station attendants and motorists confirmed the N20 price slash, saying the new price became effective on Saturday, December 14, 2024/

With the new reduction, Nigerians will pay N20 less at N1,040 per litre at NNPC filling stations, while other stations, depending on the location, sell above N1,100.

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NNPC crashes petrol price again as marketers hope for further reduction

NNPCL urged to explain $2.9bn approved for refineries' repair

Legit.ng earlier reported that civil society groups had blamed Mele Kyari over the $2.9bn released for Nigerian refineries' rehabilitation.

The groups queried why the NNPC GCEO and others could not respond to Femi Falana's questions regarding the repairs.

Falana had disclosed at a recent event that NNPC could not explain why the budgeted amount was diverted.

Source: Legit.ng