Vice President Kashim Shettima has announced that Nigeria is embarking on a $25 billion undersea gas pipeline project aimed at supplying natural gas to Europe through the West African coastline.
The Nigeria-Morocco Gas Pipeline will transport gas from Nigeria to Morocco and onwards to Europe.
Shettima made the disclosure on Monday during a meeting with Vitol Group, the world’s largest independent commodity trader, at the Presidential Villa in Abuja. He highlighted the potential for international investors in Nigeria’s energy and infrastructure sectors under President Bola Tinubu’s leadership.
“Nigeria is an attractive destination for investment, particularly in the energy and infrastructure sectors,” Shettima said, citing Tinubu’s bold reforms, including the removal of fuel subsidy, unification of exchange rates, and broad tax reforms.
The Vice President described Nigeria’s gas sector as a stable and transparent space, well-positioned amid global energy uncertainty. He urged investors to engage in Nigeria’s energy transition plans, leveraging their expertise in LNG and Associated Petroleum Gas.
“Nigeria is a gas economy, not an oil one,” Shettima emphasized, noting the country’s eighth-largest gas reserves globally. “We want to fully harness our gas potential, thanks to the sector’s transparency and reduced government interference.”
Shettima called on investors to recognize the new economic direction under Tinubu’s leadership, saying, “This is where the action is. Invest in Nigeria.”
