NNPC seeks funding for critical oil and gas infrastructure from Afrexim Bank

The group managing director of the Nigerian National Petroleum Corporation (NNPC), Mallam Melle Kyari, yesterday expressed readiness of the Corporation to collaborate with the African Export and Import Bank (AFREXIMBANK) or any financial institution willing to finance its critical projects, especially refineries rehabilitation, Downstream infrastructure, including pipelines.

Mallam Kyari, stated this when he received an official team from the bank led by the executive vice president of AFREXIMBANK, Mr. Amr Kamel, who paid him a business visit at the NNPC Towers, in Abuja.

A statement issued by NNPC acting group general manager, Group Public Affairs Division, Mr. Samson Makoji, said the corporation’s GMD made the disclosure while responding to the AFREXIMBANK boss’ desire to participate in the Nigerian Oil and Gas Industry.

According to the statement, Mallam Kyari said the corporation was open to financial and technical partnership with reputable financial institutions like the AFRIXIMBANK to develop the Industry.

“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, Amr 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.


Source: Leadership



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