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Kyari Says NNPC Will Back Nigeria’s Gas Retail Strategy

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The chief executive of Nigeria’s state-owned petroleum group says that the Nigerian National Petroleum Corporation (NNPC) will support the petroleum ministry’s plans to promote Compressed Natural Gas (CNG) as an alternate source of energy to power vehicles across West Africa’s biggest oil exporter.

Mele Kyari, who heads the NNPC, said that the company had adopted the gas penetration policy being promoted by the junior petroleum minister, Timipre Sylva.

Mr Sylva, who effectively runs the petroleum ministry as a Minister of State reporting to President Muhammadu Buhari has recently begun to promote the use of CNG as an alternative to petroleum, which has seen a spike in pump prices as the government moves to finally eliminate a very expensive subsidy regime.

Mr Kyari said that the NNPC is an energy company with a focus on cleaner and cheaper sources of fuel and that the corporation would work with other stakeholders in the industry to provide viable alternatives to petrol which would ultimately lead to a fall in demand for premium motor spirit and consequent price cuts.

The NNPC chief said that the corporation remained committed to transparency and that the NNPC would soon publish its 2019 Audited Financial Statements.

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