Hussain El-Yakub & Thomas Hardy, after the deal was signed

The Nigerian National Petroleum Corporation, NNPC and USTDA earlier today, Tuesday February 11, signed a $1.16m grant as part funding for the NNPC-Abuja Independent Power Project, IPP, TBI Africa reports.

The IPP is modelled to generate 1,350 megawatts of electricity to alleviate the power challenge in the country.

The Grant Agreement, GA, was signed by the MD of NNPC Gas and Power Investment Company, NGPIC, Hussain El-Yakub and USTDA’s Director, Thomas Hardy.

The NNPC will work with US firms, GE and Continuum Associates to deliver the Project.

According to GMD of NNPC, Mallam Kele Kyari, the project is an important one for NNPC, because it would not only boost Nigeria’s gas-to-power aspirations, it is also another positive step towards utilizing Nigeria’s abundant gas resources.