Nigeria’s Energy Minister Ekperikpe Ekpo announced that the construction of the mega energy project Nigeria-Morocco Gas Pipeline (NMGP) is scheduled to start in 2024.
The announcement was made on the sidelines of a meeting Ekpo had with a delegation from Morocco chaired by Ambassador Moha Ou Ali Tagma, on Monday in Abuja.
First conceived in 2016, the pipeline is one of the most ambitious energy ventures globally. Once online, it would become the second-longest pipeline in the world, following the West-East Gas Pipeline in China.
The NMGP would be 5,600 kilometers long and is set to cross 13 African countries, covering the energy needs of a staggering 400 million people along the West African coast.
Ekpo said: “I believe by 2024, we will conclude on it,” expressing Nigeria’s readiness for the project, according to a report from Invertorsking.
The project gained significant traction in recent years. In December 2021, Morocco and Nigeria signed an agreement to fund a feasibility study after the project was approved by the Islamic Development Bank (IDB).
In April 2022, the project received substantial funding from the Organization of Petroleum Exporting Countries (OPEC). The investment is currently used to fund the project’s feasibility study also known as Front-End Engineering Design (FEED).
In October 2022, the Nigerian National Petroleum Company (NNPC) Chief Executive Officer Mele Kyari said that a final investment decision will be made in 2023 on the $25 billion investment needed to fund the project, Bloomberg reported.
In Africa, the project promises to support the continent’s socio-economic development, experts argue. The pipeline represents a reliable source of employment and attracts investments to the region.
The pipeline aims to deliver gas from Nigeria to Europe and should supply countries along the way to help fulfill their energy needs.
Source: Morocco World News
