.Signs 10 year gas supply agreement with Dangote
The Board of Directors of Nigerian National Petroleum Company (NNPC) Limited has appointed Mr Adedapo Segun as its Chief Financial Officer (CFO). He replaced Umar Aliyu as the CFO.
The board also appointed Mr Isiyaku Abdullahi as the Executive Vice President (EVP), Downstream, and Mr Udobong Ntia as the Executive Vice President (EVP), Upstream.
According to Olufemi Soneye, Chief Corporate Communications Officer for NNPC Ltd., in a statement on Wednesday evening, “the strategic leadership appointments reflected continued dedication to improved corporate governance operational efficiency.”
Soneye said the key appointments would ensure long-term success in Nigeria’s energy sector.
Segun was formerly the Executive Vice President, Downstream, where he was reported to have made significant contributions to the company’s downstream operations.
The appointments, Soneye said, aligns with NNPC Ltd’s commitment to building a unified and competent leadership team to drive operational excellence and support the organisation’s strategic objectives.
“The board and management also extend appreciation to Mr Umar Ajiya and Mrs Oritsemeyiwa Eyesan for their outstanding dedication and service to NNPC Limited,” he said.
He said that the NNPC Ltd remained committed to achieving operational excellence, enhancing global competitiveness and ensuring financial sustainability, while prioritising the interests of the Nigerian public in the petroleum industry.
Meanwhile, NNPC’s Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company Ltd. (NNPC Ltd.), has executed a Gas Sales and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals.
Under the agreement, the NNPC Gas Marketing Limited will supply 100 Cubic Feet Per Day (MMSCF/D) gas to Dangote Refinery for an initial period of 10 years to boost local production and revamp industrial growth.
The agreement was signed by the Managing Director, NGML, Mr Justin Ezeala and the President/CEO, Dangote Group, Aliko Dangote on Tuesday at the Corporate Head Office of Dangote in Falomo, Lagos State.
Olufemi Soneye, in a statement said the agreement outlined the supply of natural gas for power generation and feedstock at the Dangote Refinery, in Ibeju-Lekki, Lagos State.
He said the milestone was in line with President Bola Tinubu’s policy of utilising 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.