NNPC To Partner AFREXIMBANK On Refineries Rehab, Downstream Infrastructure Financing

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Melle Kyari, says  the corporation is ready to collaborate with any financial institution willing to finance its critical projects.

Kyari expressed NNPC’s readiness while receiving the executive vice president of the African Export and Import Bank, Amr Kamel, and other top officials from AFREXIMBANK who paid him a business visit at the NNPC Towers on Tuesday.

According to a statement by the corporations acting Group General Manager, Group Public Affairs Division, Samson Makoji, kyari noted that the corporation was open to financial and technical partnership with reputable financial institutions like the AFRIXIMBANK to develop the Industry especially in the area of refineries rehabilitation and downstream infrastructure including pipelines.

“We have a number of financing needs, it depends on how much you are bringing to the table. We need support particularly in refineries rehabilitation, depot optimization and pipelines financing”, the GMD stated.

He assured the team of his readiness to work with the bank, adding: “We will provide you with basic information. We are ready to talk to you”.

Speaking earlier, Kamel said he was in NNPC to congratulate the GMD and his management team on behalf of the board and management of the bank.

He said the bank’s management team thought it imperative to interact with NNPC, being a key player in one of the most viable sectors of the Nigerian economy which is the largest in Africa, with a view to seeking collaboration on ways to further grow the oil and gas sector.

Apart from financing of refineries rehabilitation and other Downstream projects, the AFREXIMBANK boss expressed interest in participating in some other projects such as the Ajaokuta-Kaduna- Kano (AKK) pipeline system.