Nigeria is actively pursuing a $25 billion undersea gas pipeline project designed to transport natural gas to Europe via Morocco, Vice President Kashim Shettima disclosed during a meeting with Vitol Group at the Presidential Villa in Abuja
Shettima said the Nigeria-Morocco Gas Pipeline, which will run along the West African coastline, is a key component of President Bola Tinubu’s economic transformation agenda.
He highlighted Tinubu’s bold reforms, such as the removal of fuel subsidies, unification of exchange rates, and tax system overhaul as measures that have significantly improved Nigeria’s investment climate, especially in the energy sector.
Describing Nigeria as a gas-rich nation with the eighth-largest reserves in the world, Shettima said the country’s energy future lies in natural gas, not crude oil.
He called on Vitol and other global investors to align with Nigeria’s energy transition strategy by leveraging their expertise and influence in the Liquefied Natural Gas (LNG) and Associated Petroleum Gas (APG) markets.
The Vice President stressed that Nigeria needs not just capital but also technical competence to realise the pipeline project.
He assured that the project would be managed transparently and urged Vitol to support the initiative through strategic mobilisation of resources and expertise.
Earlier in the meeting, Vitol Group’s Chief Financial Officer, Jeffrey Dellapina, reaffirmed the company’s longstanding commitment to Nigeria, noting its extensive participation in downstream operations, trading, financing, and government-backed initiatives. He pledged continued support and capital deployment when needed.
Also speaking, the company’s Head of Public Affairs, Murtala Baloni, pointed out that Vitol enjoys strong partnerships with both Nigerian companies and government institutions.
He referenced the company’s participation in Project Gazellea crude oil-backed forward-sale financing arrangement with the Nigerian National Petroleum Company Limited (NNPC Limited) where Vitol invested $300 million during the COVID-19 pandemic.
