…Appoints new board members
ABUJA, Nigeria – The NNPC Gas Marketing Limited, NGML, a subsidiary of the Nigerian National Petroleum Company, NNPC Limited, has successfully executed a Gas Sale and Purchase Agreement, GSPA, with Dangote Petroleum Refinery and Petrochemicals FZE.
The 10-year deal is expected to boost local production and revamp industrial growth.
In another development, the Board of Directors of the company has announced the appointment of new members, which reflect its continued dedication to enhancing corporate governance, improving operational efficiency, and ensuring long-term success in Nigeria’s energy sector.
The agreement, signed by the Managing Director, NGML, Barr. Justin Ezeala and the President/CEO of the Dangote Group, Aliko Dangote on Tuesday at the Corporate Head Office of Dangote in Falomo, Lagos State, outlines the supply of natural gas for power generation and feedstock at the Dangote Refinery, in Ibeju-Lekki, Lagos State.
This major milestone is in line with President Bola Ahmed Tinubu’s policy of utilizing Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kickstarting its economic prosperity.
This development, which sees a huge investment of this nature penned with zero capital expenditure (CAPEX) outlay, has been described by many as unprecedented in the history of NGML or any gas Local Distribution Company LDC in the country.
Under the terms of the agreement, NGML will supply 100 million standard cubic feet per day MMSCF/D, 50MMSCF/D being firm supply and the rest 50MMSCF/D interruptible natural gas supply to the refinery for an initial period of 10 years, with options for renewal and growth.
This collaboration is a significant step toward ensuring the operational success of the Dangote Refinery and enhancing Nigeria’s domestic gas utilization.
NNPC Ltd, through NGML, its gas marketing subsidiary, continues to lead efforts in promoting the use of domestic gas to support industries and businesses nationwide.
The agreement represents a milestone for both NNPC Ltd and Dangote Refinery, aligning with their shared commitment to boosting local production and providing vital products for the benefit of all Nigerians.
It is also a further proof of NGML’s unwavering commitment to business excellence and fulfilling NNPC Ltd’s core mandate of ensuring Nigeria’s energy security through the execution of strategic gas projects across the country.
The newly-appointed board members include Mr. Adedapo A. Segun, who has been appointed as the Chief Financial Officer CFO. Mr. Segun previously served as the Executive Vice President, Downstream, where he made significant contributions to the company’s downstream operations.
Others include: Mr. Isiyaku Abdullahi, who has been named Executive Vice President EVP, Downstream and Mr. Udobong Ntia, who is now the Executive Vice President EVP, Upstream.
A statement by the Chief Corporate Communications Officer of the NNPC Limited, Olufemi Soneye, says these appointments align with NNPC Limited’s commitment to building a unified and competent leadership team to drive operational excellence and support the organisation’s strategic objectives.
It reads in part: “The Board and Management also extend their deepest appreciation to Mr. Umar Ajiya and Mrs. Oritsemeyiwa A. Eyesan for their outstanding dedication and service to NNPC Limited.
“NNPC Limited remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability, while prioritising the interests of the Nigerian public in the petroleum industry.”
