ExxonMobil To Make Fresh Investment In Nigeria’s Power Sector

ExxonMobil To Make Fresh Investment In Nigeria’s Power Sector

ExxonMobil, has indicated an interest to make fresh investment in the country’s power sector, making it the second IOC to declare such an intention this year, The Punch reports.

ExxonMobil is currently building a power plant in Qua Iboe in Akwa Ibom State. In  January, Eni signed a Memorandum of Understanding with the Nigerian National Petroleum Corporation (NNPC) to build a power plant in the country, as well as refurbish the Port Harcourt refinery in Rivers State.

The Ministry of Petroleum Resources stated on Wednesday that ExxonMobil recognised the partnership with Nigeria and the work of the Federal Government to ensure the development and growth of the oil and gas sector.

The ministry said ExxonMobil reiterated its commitment to help deliver power to Nigeria and support its gas commercialisation programme. The oil giant disclosed its readiness while playing host to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, according to a statement by the ministry.

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