The Nigerian National Petroleum Corporation (NNPC) and the United States Trade and Development Agency (USTDA) have signed a $1.16 million grant for the NNPC Abuja Independent Power Project.
The signing of the agreement took place Tuesday morning at the ongoing Nigeria International Petroleum Summit (NIPS) in Abuja.
The plant is designed to generate 1,350 megawatts of electricity to alleviate the power challenge in the country.
The Group Managing Director of the NNPC, Mele Kyari, said the plan by the corporation to build the 1,350mw power plant in Abuja was part of the national strategy to monetise the abundant natural gas resources in the country.
The USTDA grant will complement the ongoing feed project in order to make the Abuja IPP initiative more bankable for strategic…