Refineries Rehab: NNPC seeks partnerishp with AFREXIMBANK

The Nigerian National Petroleum Corporation (NNPC) says it is ready to collaborate with the African Export and Import Bank (AFREXIMBANK) and other financial institutions willing to finance its critical projects.

NNPC Group Managing Director Malam Mele Kyari disclosed this in Abuja, on Tuesday while receiving a delegation from AFREXIMBANK led by its vice president Mr Anthony Kamel.

He said the critical projects were refineries rehabilitation and downstream infrastructure including pipelines.

Kyari said the corporation was open to financial and technical partnership with reputable financial institutions like the AFRIXIMBANK to develop the industry.

“We have a number of financing needs, it depends on how much you are bringing to the table. We need support particularly in refineries rehabilitation, depot optimisation and pipelines financing,” he said.

He assured the team of his readiness to work with the bank, saying “We will provide you with basic information. We are ready to talk to you.”

Earlier, Kamel said he was in NNPC to congratulate the GMD and his management team on behalf of the board and management of the bank.

He said the bank’s management thought it imperative to interact with NNPC, being a key player in one of the most viable sectors of the Nigerian economy which is the largest in Africa.

He added that the visit was also to seek collaboration on ways to further grow the oil and gas sector.

kamel also expressed interest in participating in some other projects like the Ajaokuta-Kaduna- Kano (AKK) pipeline system, apart from financing refineries’ rehabilitation and other downstream projects.