Another Chinese company partners Nigerian firm as 2 presidential jet were seized

• With support from the China Engineering & Machinery Corporation (CMEC), the Gwagwalada Independent Power Plant (GIPP) is being created
• The Nigerian National Petroleum Commission Ltd (NNPCL) signed a MoU to co-fund the GIPP Phase-1 Project in Beijing
• The agreement was signed by Olalekan Ogunleye, executive vice president of NNPC Gas Power & New Energy and chairman of CMEC Nigeria

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

The Gwagwalada Independent Power Plant (GIPP) is being developed with assistance from the China Engineering & Machinery Corporation (CMEC).

Nigerian National Petroleum business Ltd. and China Engineering & Machinery Corporation signed a Memorandum of Understanding. Photo Credit: FG, Chinese government
Source: Getty Images

A Memorandum of Understanding (MoU) was signed by the company and Nigerian National Petroleum business Ltd. (NNPCL) to co-fund the GIPP Phase-1 Project in Beijing, China.

The deal was signed by Zhang Daguang, chairman of CMEC Nigeria, and Olalekan Ogunleye, executive vice president of NNPC Gas Power & New Energy.

Consistent with Nigeria's Gas Master Plan infrastructure vision, the 350MW GIPP Phase 1 Project, sometimes referred to as the Abuja IPP, is one of the major anchor projects of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project.

When the GIPP Phase 1 Project is finished, it is expected to increase the production of electricity, generate employment, lessen gas flaring, and promote industrial growth.

A contract has been struck by the China Engineering & Machinery Corporation (CMEC) with the NNPCL.

The initiative, announced by President Bola Tinubu in August of last year, has been called a game-changer for Nigeria's electricity industry.

A 1,350 MW combined cycle power plant with the balance of plant and auxiliaries would be built on 547 hectares of land already purchased in Gwagwalada, Abuja.

Nigeria's Presidential Jets Seized in Two Countries

Legit.ng reported that three Nigeria-owned jets linked to the presidential jets fleet have been reportedly seized in France and Switzerland due to an ongoing dispute between Ogun state and Chinese company Zhongshan.

The seizures followed a ruling by a French court, which authorised the aircraft confiscation.

Leadership reports that the legal battle stems from a 2010 agreement in which Zhongshan, through its parent company Zhuhai Zhongfu Industrial Group Co. Ltd, secured rights to develop a free trade zone in Ogun state, Nigeria.

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Source: Legit.ng