NNPC To Raise Funds For Financing Nigeria’s Oil Projects

The Nigerian National Petroleum Corporation has revealed plans to raise funds from the stock market to finance oil projects across the country.

The Minister of State for Petroleum Resources, Ibe Kachikwu, and the Group Managing Director, NNPC, Maikanti Baru, made the announcement at the ongoing 2018 Nigeria Oil and Gas conference in Abuja.

The NNPC GMD said the projects include the NNPC and Nigeria Agip oil company joint venture, south gas project, north gas project and central gas project, among others.

He said that government has issued an updated oil and gas policy as well as initiated the process for enacting a new petroleum industry governance bill that explains government institutions and their roles in the industry.

The NNPC had earlier signed financing agreements of about 2.5 billion dollars for different projects.

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