The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has requested the support of private investment to assist the corporation repair and build more pipelines across the country. Being a virile crude oil producing country, more pipelines would enable it to export oil.
Baru asked the new board of NNPC downstream subsidiary, Nigerian Pipeline Storage Company (NPSC) to create partnerships with the private sector and double the number of its pipelines over the next 10 years. While inaugurating the NPSC board, Baru asserted that “Your work also is to look at refurbishing these pipelines and storage along a Public Private Partnership (PPP) arrangement by getting willing private companies to invest in these pipelines.” NNPC owns and operates gas pipelines which feed power plants in the country.
The GMD also assured that the corporation will engage security agencies to protect pipelines against any act of economic sabotage by unscrupulous elements especially militants.
This is necessary because attacks on oil installations including pipelines in the Niger Delta led to low production of oil which culminated into recession in 2016 and paralyzed the country’s fragile economy.