Success Nwogu 
President Muhammadu Buhari has said that the Federal Government realised N200 billion from the award of Petroleum Prospecting Licences (PPLs) to 161 successful firms and $7 million from the process of the marginal fields bid round. Buhari, represented by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, spoke during the Nigeria International Energy Summit in Abuja. Buhari said Nigeria will become the oil refining of Africa when the Dangote Refinery, which will be Africa’s biggest oil refinery and the world’s biggest single-train petroleum facility, begins operations. He stated that upon completion, Dangote Refinery would process 650,000 barrels of crude oil per day. He added that many modular refineries are already on stream and are up and running during the lifetime of his administration.
Buhari said: “We implemented marginal fields bid round and saw to the conclusion of the process which resulted in the award of Petroleum Prospecting Licences (PPLs) to 161 successful firms with the federal government raking in about N200 billion as well as $7 million from the process.
“The $5 billion NLNG Train 7 project is one of such. It is one of the most ambitious construction projects in Nigeria. Upon completion, the Nigeria LNG Train 7 project will increase the NLNG Terminal production capacity by 35 per cent from the current 22 Metric Tons per an- num to 30 Metric Tons per annum. “Another proof that the ease of doing business of my administration is not just a mere mantra is the reality that Dangote Refinery has become. Africa’s biggest oil refinery and the world’s big- gest single-train petroleum facility upon completion will process 650,000 barrels of crude oil per day and this will help Nigeria become the oil refining of Africa. Let me also point out that many modular refineries came on stream and are up and running during the lifetime of my administration.”
The Vice President, Prof. Yemi Osin- FG realised N200bn, $7m from sale of marginal fields –Buharii bajo, said the $2.8bn Ajaokuta-Kaduna- Kano natural gas pipeline project the FG through the Nigerian National Petroleum Company Limited and its partners, was constructing was 43 per cent completed.
According to him, the project would help generate 3.6 gigawatts (3,600 mega- watts) of electricity, adding that the AKK pipeline was a major project of the re- gime of the President, Major General Muhammadu Buhari (rtd).
The Group Chief Executive Officer, of Nigerian National Petroleum Company (NNPCL), Mallam Mele Kyari, represented by the Executive Vice President Gas, Power and New Energy, Mohammed Ahmed, said NNPCL was committed to reliably delivering energy to its stakeholders, through efficient utilisation of hydrocarbons and other new energy sources which the country is blessed with. According to him, oil and gas remain significant components of energy in the global energy mix. He promised that the NNPC was un- locking more opportunities across the oil and gas value chain, spanning supply and infrastructure to the markets.
Kyari said: “The NNPC Limited is also investing heavily in critical gas infrastructure such as the Ajaokuta-Abuja- Kano (AKK) gas pipeline and the OB3 gas interconnector to support 5 Bscf/d of domestic gas utilisation including 5 GW of power generation capacity by developing power plant projects along the AKK pipeline corridor and across the country to complement the existing ones.”
