The Nigerian National Petroleum Corporation (NNPC) and the United States Trade and Development Agency (USTDA) have signed a $1.16 million grant as part funding for the NNPC-Abuja Independent Power Project (IPP).
The grant would help the NNPC conclude planning work on the project.
The signing which had the General Electricity (G.E) present, took place on Tuesday at the ongoing Nigeria International Petroleum Summit (NIPS)2020 in Abuja.
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According to the Group Managing Director of the NNPC, Mele Kyari, the plant is modelled to generate 1,350 megawatts of electricity to alleviate the power menace in the country.
Kyari added that the Corporation’s plan to build the power plant is centered around a national strategy to monetize the abundant natural gas resources in the country.
Recall that the NNPC conducted Environmental Impact Assessment (EIA) on the power plant to be located in Gwagwalada, Abuja.
The Abuja 1,350mw Independent Power Plant (IPP) project would advance economic development and commercial interests in Africa.