Nigeria Commits $12.5 Billion to Morocco-Nigeria Gas Pipeline Project

On the sidelines of the 2023 edition of the Energy Forum organized by the Society of Petroleum Engineers (SPE) in Abuja, Mele Kyari, CEO of "Nigerian National Petroleum Company Limited" (NNPC), announced that his company has decided to invest $12.5 billion, in order to ensure a 50% stake in the project’s financing structure, reports the Nigerian daily The Nation. The Morocco-Nigeria Gas Pipeline project is expected to cost $25 billion.

In October 2022, Mele Kyari had, in a statement to Bloomberg, promised to make "a final investment decision next year" before adding that discussions on financing were ongoing. However, he had not mentioned the names of the structures that have agreed to support the realization of the project.

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This large-scale project will be carried out in several phases and will run