Vice-President Kashim Shettima has said Nigeria is seeking $25 billion investment for the Nigeria-Morocco gas pipeline project. He made the remarks on Monday at the presidential villa during a meeting with a delegation from Vitol Group, an independent commodity trader.
Shettima described the project as an expensive but necessary venture to ensure gas supply stability, noting that the undersea pipeline would offer long-term security. He urged Vitol to join the project, saying Nigeria needs the company’s technical expertise rather than just financial backing.
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He highlighted President Bola Tinubu’s economic reforms as positioning Nigeria as a prime destination for investment in the energy sector. According to Shettima, the country is transforming into a gas-driven economy with a transparent management structure to support international partnerships.
In response, Vitol Group’s chief financial officer, Jeffrey Dellapina, reaffirmed the company’s long-term commitment to Nigeria, while Murtala Baloni, head of public affairs, noted Vitol’s role as a key funder of Project Gazelle, a COVID-era financing initiative by NNPC Limited.
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