By Ayomide Otitoju
Nigeria is accelerating plans to construct a $25 billion undersea gas pipeline that will supply natural gas to Europe, Vice President Kashim Shettima disclosed on Monday during a meeting with executives of Vitol Group at the Presidential Villa in Abuja.
The Nigeria-Morocco Gas Pipeline project is designed to channel gas through the West African coastline to Morocco, with onward transmission to European markets. The initiative forms a key part of Nigeria’s strategy to position itself as a leading global energy supplier.
Vice President Shettima highlighted the administration’s bold economic reforms, noting that President Bola Tinubu has made strategic decisions to enhance Nigeria’s investment appeal, especially in the energy sector.
“In the last 25 years, no Nigerian leader has taken the kind of far-reaching decisions President Tinubu has—removal of fuel subsidy, unification of exchange rates, and critical tax reforms,” Shettima said. “Our gas sector represents a beacon of stability and transparency amid global uncertainty.”
He called on international investors to support Nigeria’s energy transition efforts, stressing that the country holds the world’s eighth-largest proven gas reserves.
“We are fundamentally a gas economy, not just oil,” Shettima noted. “We want you to harness the opportunities in LNG and APG. The NLNG has operated with minimal government interference, providing stable and predictable revenue—this is what we want to replicate with the undersea pipeline project.”
Shettima described the pipeline as a technically demanding and capital-intensive venture, but one critical to ensuring long-term supply stability.
“The project will require about $25 billion and significant technical expertise. We need partners like Vitol, not only for capital but also for your global influence and experience. We are committed to full transparency in managing the project,” he added.
Vitol Group’s Chief Financial Officer, Jeffrey Dellapina, reaffirmed the company’s long-term commitment to Nigeria, citing its involvement across downstream operations, financing, and trading.
“This has been an incredibly important market for us,” Dellapina said. “We remain ready to deploy capital where needed and continue to support Nigeria’s energy development.”
Also speaking, Vitol’s Head of Public Affairs, Murtala Baloni, noted the company’s strong relationships with Nigerian entities, referencing its $300 million investment in Project Gazelle—a crude-backed forward-sale facility with NNPC Limited during the COVID-19 pandemic.
