Nigeria is pursuing a $25 billion undersea gas pipeline project aimed at supplying natural gas to Europe through the West African coastline.
Vice-President Kashim Shettima announced the initiative during a meeting on Monday, 2 June, with executives from Vitol Group, the world's largest independent commodity trader, at the Presidential Villa in Abuja.
The Nigeria-Morocco Gas Pipeline will deliver gas from Nigeria to Morocco and onward to Europe, marking a strategic investment opportunity.
Shettima emphasized that President Bola Tinubu's bold economic reforms have positioned Nigeria as an attractive destination for international investment, particularly in the energy and infrastructure sectors.
He noted significant policy shifts, including the removal of fuel subsidies, the unification of exchange rates, and broad tax reforms; urging investors to recognize Nigeria's new economic direction, and describing the gas sector as stable and transparent amid global energy uncertainty.
VP Kashim Shettima and Vitol CFO, Jeffrey Dellapina
Shettima called on Vitol to engage in Nigeria's energy transition plans, leveraging its expertise in LNG and Associated Petroleum Gas.
The undersea gas pipeline project is expected to cost $25 billion and will require significant technical expertise.
Vitol Group's CFO, Jeffrey Dellapina, reaffirmed the company's commitment to Nigeria’s energy sector, expressing readiness to invest further.
The commodity trader's Head of Public Affairs, Murtala Baloni, restated support for the Nigerian government's efforts and highlighted the company's strong partnerships within Nigeria.
