The Nigerian National Petroleum Corporation (NNPC) GMD Dr. Maikanti Baru has directed the 618km AKK Pipeline Project Team, Bank of China and SINASURE to expedite all Agreements on time for signing during President Muhammadu Buhari’s state visit to China.
The Baru led NNPC has restated its commitment to actualizing the AKK project as approved and in line with the Federal Government’s desire to improve the supply of gas nationwide, thereby enhancing power generation, economic growth and employment opportunities.
The state oil firm emphasized that the execution of the strategic Ajaodkuta-Kaduna-Kano, AKK, gas pipeline project is progressing under the original concept of 100 percent contractor financing model.
NNPC further clarified that the amount spent for the early works shall be recovered immediately the loans disbursement starts and no part of tariff shall be spent on the project until the end of the loan moratorium period.
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