(Ecofin Agency) - The chairman of Transnational Corporation of Nigeria (Transcorp), Tony Elumelu (photo) has announced that the company is currently in talks with the Nigerian National Petroleum Corporation (NNPC) as regards the purchase and renovation of some abandoned gas fields in Niger Delta.

According to Tony, the aim of the project is to fulfil the company’s commitment in improving the country’s economy as well as generating income.

“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. 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 realize its present target of 10,000 megawatts of electricity,’’ he said.

He added that power generation and consumption is one of the problems being faced in Nigeria presently and if improved, will go a long way in easing the shortages and boost the economy, Premium Times reports.

Anita Fatunji