{"id":6714,"date":"2025-06-03T08:40:16","date_gmt":"2025-06-03T08:40:16","guid":{"rendered":"https:\/\/beadysword.com.ng\/blog\/?p=6714"},"modified":"2025-06-03T08:40:30","modified_gmt":"2025-06-03T08:40:30","slug":"nigeria-seeking-25bn-investment-for-gas-pipeline-project-shettima","status":"publish","type":"post","link":"https:\/\/beadysword.com.ng\/blog\/2025\/06\/03\/nigeria-seeking-25bn-investment-for-gas-pipeline-project-shettima\/","title":{"rendered":"Nigeria Seeking $25bn Investment For Gas Pipeline Project-Shettima"},"content":{"rendered":"
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Vice-President Kashim Shettima says Nigeria is actively seeking $25 billion in investment to supply gas to Europe via the Nigeria-Morocco gas pipeline project.<\/strong><\/p>\n

Speaking on Monday at the presidential villa during a meeting with a Vitol Group delegation, an independent commodity trader, Shettima said the project is an expensive venture requiring about the aforementioned amount.<\/p>\n

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He said the country needs Vitol\u2019s technical expertise to successfully finalise the project.<\/p>\n

\u201cWe need you more for your technical expertise than for your money. Gas supply stability counts, that is why we are exploring the option of an undersea gas pipeline,\u201d the vice-president said.<\/p>\n

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Shettima said, \u201cit will be a completely transparent management structure\u201d, urging Vitol to \u201ccome on board with this project\u201d.<\/p>\n

He described Nigeria\u2019s gas sector as a beacon of stability and transparency amid global uncertainty.<\/p>\n

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\u201cI will urge you to key into our nation\u2019s energy transition programme. I want you to utilise your dominance in the Liquefied Natural Gas (LNG) and Associated Petroleum Gas (APG) sub-sectors,\u201d he said.<\/p>\n

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The vice-president said the world is changing and \u201cours is a gas and not an oil economy\u201d.<\/p>\n

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\u201cWe have the eighth-largest gas reserve in the world. We want to harness the potential in the gas sector fundamentally because of the stability and transparency in that arena,\u201d he said.<\/p>\n

The Nigeria Liquefied Natural Gas Limited (NLNG) has been largely insulated from government interference.<\/p>\n

\u201cWhat we are getting from the NLNG is so predictable. This is why we are seriously exploring the option of taking our gas to Europe.\u201d<\/p>\n

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The vice-president said President Bola Tinubu\u2019s bold economic reforms have positioned Nigeria as a leading destination for investment, particularly in the energy sector.<\/p>\n

Shettima said Nigeria\u2019s leadership transformation under Tinubu presents a unique and unparalleled opportunity for international investors.<\/p>\n

\u201cMost importantly is the leadership. President Bola Ahmed Tinubu grew up in that ecosystem \u2014 energy and finance,\u201d he said.<\/p>\n

\u201cIn the past 25 years, we have not had a leader who dares to take far-reaching decisions as he has taken \u2014 the removal of fuel subsidy, the unification of the multiple exchange rates, and the tax reforms.\u201d<\/p>\n

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Shettima appealed to global investors, saying Tinubu is putting Nigeria on a new trajectory.<\/p>\n

\u201cThis is where the action is, invest in Nigeria,\u201d he said.<\/p>\n

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On the part of\u00a0 \u2018VITOL GROUP HAS LONG-TERM COMMITMENT TO NIGERIA\u2019<\/strong>, Jeffrey Dellapina, chief financial officer of Vitol Group, said the company has a long-term commitment to Nigeria.<\/p>\n

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\u201cThis has been an incredibly close and important country for Vitol for a very long time. We have participated in a lot of things from the downstream, financing, trading and government support when needed,\u201d he said.<\/div>\n

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\u201cWe do want to maintain an understanding that Vitol is committed, and we are always available to deploy capital when needed.<\/p>\n

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\u201cWe want to stay in this country and evolve with you.\u201d<\/p>\n

Also speaking, Murtala Baloni, Vitol Group\u2019s head of public affairs, said the company is benefiting from a strong and positive business relationship with Nigerian companies and the government.<\/p>\n

\u201cWe support the business of the government in ways that we can in the deployment of capital,\u201d he said.<\/p>\n

Baloni said the company was one of the major funders of Project Gazelle, a crude oil-backed forward-sale finance facility by the Nigerian National Petroleum Company (NNPC) Limited, \u201cwhere we put in $300 million during the COVID-19 period\u201d.<\/p>\n<\/div>\n

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Vice-President Kashim Shettima says Nigeria is actively seeking $25 billion in investment to supply gas to Europe via the Nigeria-Morocco gas pipeline project. Speaking on Monday at the presidential villa during a meeting with...<\/p>\n","protected":false},"author":2,"featured_media":6715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-6714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=6714"}],"version-history":[{"count":2,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6714\/revisions"}],"predecessor-version":[{"id":6717,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6714\/revisions\/6717"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media\/6715"}],"wp:attachment":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=6714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=6714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=6714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}