The Ajaokuta-Kaduna-Kano (#AKK) Gas Pipeline Project, one of Nigeria’s most significant infrastructure projects, is nearing 70% completion, according to the Group CEO of NNPC Limited, Mallam Mele Kyari.
He made this disclosure while on an inspection tour of one of the project sites in Ahoko, Kogi State.
The #AKKGasPipeline is a crucial project for Nigeria’s socio-economic growth, and Mallam Kyari emphasized its value to the country during his tour.
He also stated that the project has not experienced any stoppages and has been continuously funded by the NNPC, despite the absence of third-party financing.
Mallam Kyari explained that NNPC has already released over $1.1 billion to finance the project.
“The #AKKGasPipeline is one massive project we are running as NNPC Limited. It has immense value for Nigeria & its socio-economic growth. The project has not stopped for one day. We have continued to fund it despite the absence of third-party financing,” he said.
“We have so far spent over $1.1bn on this project from our cashflow. We are a commercial company today. We have inter-company loans within our company now. This company can fund this project, so we do not need any support to deliver this project now.”
“As we speak now, we don’t owe a dollar to our contractors today. We paid all their invoices. There are over 30 active sites today in this project, and we are very hopeful that we will deliver this project”
