NNPC to declare dividend in 2020 despite Covid-19 pandemic

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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari has said that Nigeria is more of a gas endowed country, though the country is known more for her oil resources.

The GMD stated that the Corporation’s new focus was on gas development, as it was the most resilient source of energy in the energy transition process.

According to a report from Vanguard, this disclosure was made by the NNPC boss during a media parley with energy correspondents at an event attended by the National Association of Energy Correspondents in Abuja on Friday, November 20, 2020.

He disclosed that gas had a lot to offer as it created work, and an industry that would have many other benefits.

Kyari said, “The only oil and gas that survived during the COVID-19 with minimal negative change was gas. Gas will help the country out of its major challenge of electricity. The biggest challenge we have here is to take electricity to homes, industries and to use the resources we have to create that energy this country needs.


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“Today, the two reasons we are not getting electricity is because the production is low and we are not able to transmit it to those who need it. That means there is a bottleneck in transmission and distribution system.”

The NNPC boss gave assurances at the event that the Corporation would continue to work to ensure full gas development in the country for economic growth.

Also, during a budget defense at the National Assembly, Kyari, who was represented by the Chief Operating Officer, Gas and Power, Mr. Yusuf Usman, said gas supply to power had improved to a large measure, which he pointed out could be seen in the improved power supply currently witnessed across the country.

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With the full deregulation of the downstream sector of the oil industry, which has led to an increase in the pump price of petrol, the Federal Government has been pushing out policies to encourage the development and use of gas which they consider a cheaper source of energy.

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