The Nigerian National Petroleum Corporation (NNPC) has declared plans to turn its 52 hospitals and clinics, which it spent multi-million dollars to build and equip over the years into commercial use. Group Managing Director of the Corporation, Dr. Maikanti Baru, has disclosed that, maintaining that his corporation had in its drive for commercialization, secured an investment proposal from a US multinational company, General Electric, GE, to invest in the nation’s three refineries located in Port Harcourt, Warri and Kaduna. Although Baru did not state reason for the decision to turn NNPC hospitals to commercial use, a source at the corporation said that this “move was not unconnected to the recession rocking the country and the need to place the corporation on a better platforms as a truly and thorough commercial entity.” Stating that he welcomed the GE’s offer to also support in boosting the nation’s offshore production and raise crude oil reserve ratio replacement, the NNPC’s boss, according to a statement, urged the company to “also tap into the opportunities on offer in medical supplies as the NNPC moves to commercial the services of its 52 hospitals and clinics spread across the country in the years ahead.” GE, had in a presentation to NNPC GMD and his team, stated that the company’s teams of partners, including its consortium involving the Engineering, Procurement and Construction (EPC) partners, off-takers, traders and some financiers would be engaged in the initiative.
GE, which Headquarters is in Boston, Massachusetts, is worth $493 billion in asset and its business focus areas include oil and gas, power, water supply, aviation, healthcare, transportation and capital. “We were involved in the tenders that started around last year which was subsequently withdrawn but our commitment to bringing the refineries on-stream is still very deep and we are very serious about it. We propose that work commences either with the Warri or Port Harcourt Refinery as a pilot, as we set a target to improve the refinery capacity before the end of 2017,’’ the Company stated in its presentation. GE’s desire to partner with NNPC on the rehabilitation of the three refineries came on the heels of a similar proposal by the Italian company, Eni, to establish cooperation with NNPC for the Rehabilitation and enhancement of Port Harcourt Refinery as contained in the company’s release in Rome yesterday July 23, 2017.

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