Exxon Mobil To Invest In Nigeria’s Power Sector

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The Oil and Gas Conglomerate ExxonMobil, has indicated an interest to make fresh investment in the country’s power sector.

The Punch reports that ExxonMobil is currently building a power plant in Qua Iboe in Akwa Ibom State. In  January, Eni signed a Memorandum of Understanding with the Nigerian National Petroleum Corporation (NNPC) to build a power plant in the country, as well as refurbish the Port Harcourt refinery in Rivers State. Dr. Ibe Kachikwu, Ministry of Petroleum Resources stated on Wednesday that ExxonMobil recognized the partnership with Nigeria and the work of the Federal Government to ensure the development and growth of the oil and gas sector.

The news of this partnership has however been met with mixed reactions, in light of the recent corruption scandal involving the Federal Government and another oil conglomerate – Shell.

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About Tomide Adeyeye 413 Articles
Federal University Of Technology (FUTA) Alumnus. I am constantly overwhelmed by the power of the written word and how it can transcend genres, stereotypes, and even time itself. This fascination drives my passion for writing.

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