New Telegraph

$25bn Nigeria-Morocco Gas Pipeline Project Feasible

The Chief Executive Officer of Energy Consultants, Chief Dike Oguegbulem, has said that the realisation of the $25 billion Nigeria-Morocco gas pipeline project appears more feasible as it has attracted more regional participation.

In an interview with New Telegraph over the weekend, he said the recent agreement between President Bola Tinubu and Equatorial Guinean President, Teodoro Obiang Nguema, in Malabo, Equatorial Guinea, would boost the realisation of the project.

The Presidency had in a statement explained that Tinubu and Mbasogo in Malabo signed an agreement on the Gulf of Guinea Pipeline Project, further affirming partnership for mutual development.

Special Adviser to the President, Media & Publicity, Chief Ajuri Ngelale, added that the agreement covered legislative and regulatory measures for the gas pipeline, establishment and operation, transit of natural gas, ownership of the gas pipeline, and general principles.

According to him, Tinubu said the signing of the agreement will open up new opportunities for gas exploration and employment.

Reports had revealed that Côte d’Ivoire, Liberia, Guinea, and Benin in June 2023, at the Economic Community of West African States (ECOWAS) headquarters in Lagos, signed agreements with Morocco and Nigeria to participate in the Nigeria-Morocco gas pipeline project.

Also, a steering committee meeting was held for the Nigeria-Morocco gas pipeline project, which representatives from ECOWAS and all the relevant countries attended. More countries are now involved in the project, building upon the agreements previously signed with ECOWAS.

The participating countries include: Nigeria, Morocco, Mauritania, Senegal, Côte d’Ivoire, Liberia, Guinea, Benin, Gambia, Guinea-Bissau, Sierra Leone, and Ghana.

Oguegbulem said there was the need for more regional involvement and financing to fastract the actualization of the project.

He identified the gas pipeline project as a viable and transformation project that will attract regional advancement, development and cooperation. He said more funding arrangements would also help the region to reap the benefits of the venture earlier.

He noted that efforts must be intensified to ensure more gas usage by Nigerians and other members of the region to reduce the harmful effect of fossil fuel and charcoal.

He noted that gas is cheaper, cleaner, less harmful to the environment and eco-system. According to him, it is also in alignment with the global energy transition trend.

He said the agreement between Nigeria and Equatorial Guinea could reduce funding challenges encountered in the execution of the project.

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