Chairman of Transnational Corporation of Nigeria (Transcorp), Tony Elumelu has said the company is set to and revive some moribund gas fields in the Niger Delta region.

Elumelu made this known in an interview by the News Agency of Nigeria NAN during Transcorp’s 10th annual general meeting in Calabar, Cross River state.

Elumelu said the company had started discussing with NNPC on this project which aims to realise the company’s objective of improving the country’s economy while also making profit.

 

In his words “We are not relenting. We are in discussion with NNPC to see whether we can take over and run the idle gas plants. We have the capacity to do this,” he said.

“Our thinking is that instead of having these moribund gas fields in the Niger Delta lie idle, let some power generating companies that have the resources such as Transcorp Power, take them over.

“We can revamp them, produce gas and use it to improve our power generation and get the country realise its present target of 10,000 megawatts of electricity.”

According to Elumelu, Transcorp Power was poised to improve access to electricity in the country and ensure that small and medium scale industries had the capacity to produce more and boost the economy.

“Power generation and consumption is a problem in Nigeria today and if we can improve electricity generation, that will help to check the shortfall and boost the economy,” he said.

Source: The Cable