Nigeria's NNPC says AKK gas pipeline 70% complete, behind target
LAGOS, April 24 (Reuters) - Construction of Nigeria's 614-km (384-mile) natural gas pipeline is 70% complete, the head of state oil firm NNPC said on Monday, missing a target he initially set to finish the project by the end of the first quarter.
Mele Kyari said during a tour of the project in central Kogi state that the company was using its own revenue to fund the project, a statement from NNPC said.
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At its inception in 2020, the project was to be financed by Chinese loans but this fell through when the lenders did not release the money.
Construction of the Ajaokuta-Kaduna-Kano (AKK) pipeline began in June 2020, with authorities promising it would help generate 3.6 gigawatt of power and support gas-based industries along the route when completed.
"We have so far spent over $1.1 billion on this project from our cashflow. This company can fund this project, so we do not need any support to deliver this project now," Kyari said.
He did not say when the pipeline would now be completed.
The AKK pipeline runs from Ajaokuta in central Nigeria to Kano, passing through Kaduna, all in the north of the country.
Africa's top crude oil exporter, Nigeria, holds some of the world's largest known reserves of gas, but has struggled to attract investment into the sector. (Reporting by MacDonald Dzirutwe Editing by Marguerita Choy)