The Nigerian National Petroleum Corporation NNPC says it is prepared to build additional Independent Power Plants IPP in Abuja, Kaduna and Kano which are expected to add 4,000 megawatts of power to stabilize the national grid.

Chief Financial Officer of NNPC and Chairman of the Board of NNPC Power subsidiary, Gas and Power Investment Company, Isiaka Abdulrazaq, stated this at the inaugural board meeting of the Company at the NNPC Towers in Abuja.

The national oil company also planned to construct a fertilizer plant in Brass, Bayelsa State.

The Company, according to a statement by NNPC spokesman, Ndu Ughamadu, was established as a subsidiary under the Gas and Power Directorate to enable the corporation monetize the abundant gas resources in the country for the benefit of the nation’s economy.