NNPC to Partner AFREXIMBANK on Refineries’ Rehab, Downstream Infrastructure Financing





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By Our Reporter

The Nigerian National Petroleum Corporation (NNPC) has expressed
readiness to collaborate with the African Export and Import Bank
(AFREXIMBANK) or any financial institution willing to finance its
critical projects, especially refineries rehabilitation, Downstream
infrastructure, including pipelines.
The Group Managing Director of the Corporation, Mallam Melle Kyari,
stated this when he played host to the Executive Vice President of
AFREXIMBANK, Mr. Amr Kamel, and other top officials of the bank who
paid him a business visit at the NNPC Towers, a release by NNPC Acting
Group General Manager, Group Public Affairs Division, Mr. Samson
Makoji, stated today in Abuja.
Speaking in response to the AFREXIMBANK boss’ desire to participate in
the Nigerian Oil and Gas Industry, Mallam 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 optimization and pipelines financing”, the GMD
stated.
He assured the team of his readiness to work with the bank, adding:
“We will provide you with basic information. We are ready to talk to
you”.
Speaking earlier, Amr 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 team 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, with a view to
seeking collaboration on ways to further grow the oil and gas sector.
Apart from financing of refineries rehabilitation and other Downstream
projects, the AFREXIMBANK boss expressed interest in participating in
some other projects such as the Ajaokuta-Kaduna- Kano (AKK) pipeline
system.

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