The Nigerian National Petroleum Company Limited (NNPCL) has urged Nigerians to be more vigilant in protecting vital infrastructure like oil pipelines and power plants, warning that vandalism poses a serious threat to the economy and national security.
Speaking at a workshop with Kannywood actors in Abuja, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, stressed that the company plays a crucial role in Nigeria’s energy sector and needs eapublic support to safeguard national assets.
NNPCL’s Role in Power Generation
Soneye highlighted NNPCL’s contributions to electricity supply, managing key power plants like the Maiduguri Emergency Power Plant and co-owning Afam VI and Okpai 1 & 2, which together have a total capacity of 1,132 megawatts (MW). He said NNPCL remains committed to ensuring stable energy supply and pushing for greater use of natural gas to power Nigeria’s industries.
He also announced that President Bola Tinubu will soon lay the foundation for five mini-LNG (Liquefied Natural Gas) plants in Ajaokuta, Kogi State. These projects, he said, will help Nigeria maximise its 209 trillion cubic feet (tcf) of natural gas reserves to boost industrialisation and electricity supply.
Support for Dangote Refinery and Nigeria’s Oil Sector
To strengthen Nigeria’s refining capacity, Soneye revealed that NNPCL secured a $1 billion loan backed by crude oil to support the Dangote Refinery during a period of financial challenges. He explained that this investment was a strategic decision aimed at strengthening public-private partnerships and improving Nigeria’s self-sufficiency in fuel production.
Despite these efforts, Nigeria still imports large volumes of refined fuel. Many stakeholders have questioned why the country continues to rely on imports despite recent claims that refineries in Port Harcourt and Warri have resumed operations.
NNPCL’s Financial Growth and Foreign Exchange Intervention
Soneye noted that for the first time in decades, NNPCL declared profits and has already surpassed its profit projections for 2024. Additionally, the company played a key role in stabilising Nigeria’s economy by facilitating the $3 billion Gazelle loan, which helped ease the country’s foreign exchange crisis.
Call for Public Cooperation
NNPCL has called on Nigerians to report suspicious activities around oil pipelines and power plants to help curb vandalism and oil theft. Protecting these infrastructures, Soneye said, is essential for national development, economic stability, and improved energy security.
With ongoing investments in refining, gas utilisation, and power generation, NNPCL aims to drive Nigeria towards a more sustainable energy future but public cooperation is key to achieving this goal.