Chineme Okafor in Abuja
The Nigerian National Petroleum Corporation (NNPC) has disclosed that it will invest about $15 billion to build thermal power plants with a combined generation capacity of 4,000 megawatts (MW) across the country over the next 10 years.
It said three of the power plants with a combined output of 3,100MW would be built in Abuja, Kaduna and Kano, along the route of its Abuja-Kaduna-Kano (AKK) gas pipeline corridor currently under construction and from which gas supply to them would be guaranteed.
It also stated that as part of the business model for the construction and operation of the power plants, Incorporated Joint Venture (IJV) companies involving the NNPC, international power companies and other Nigerian investors, would be set up.
The IJVs, NNPC said, would be structured after the current business…
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