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NNPC calls for third party financing for gas development

NNPC calls for third party financing for gas development

Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, has called on relevant government institutions to work together to tackle challenges facing the nation’s oil and gas industry with a view to boosting revenues from the sector, especially third party financing. Kyari made the call during a visit to the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, office in Abuja.

According to him, NNPC is focusing on third party financing of oil and gas development projects, stressing that the current global reality of energy transition has proved gas resources to be more viable as a revenue earner for the nation and that NNPC was beginning to focus more on gas development to boost the nation’s economy and offer maximum value to Nigerians.

“As we intensify efforts towards exploitation of oil, gas has become very prominent in transactions. Throughout the Covid-19 situation, the only stream of revenue that was not impacted negatively was the gas stream and that is why we have shifted our focus to gas both in the domestic market and for export,” Mallam Kyari stated.

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Source: SweetCrudeReports

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