The Premium Grid model, developed the Nigerian Energy Support Programme (NESP),combines franchising projects and embedded generation in ring-fenced areas for supplying reliable 24/7 electricity to customers.
He noted that the the Mini Bid Round is a market-driven programme expected to outperform the last bid round which held in April 2007 during which a total of 45 blocks were put on offer under a different regulatory regime (the Petroleum Act, 1969).
A dedicated programme portal (br.nuprc.gov.ng) for the Mini Bid Round has been published by NUPRC which provides details of the bid round process, including the registration and prequalification requirements, and detailed guidelines for applicants.
“We have partnered with credible investors to develop critical projects in the sector to take Nigeria towards the goal. It is worthy of note that 70 percent of our investments are on gas-based activities, especially midstream and downstream gas. Our investments underscore the importance of gas to Nigeria’s economic sustainability, apart from its role in the energy transition,” he said.