The group managing director of NNPC, at the Atlantic Council Global Energy Forum in Dubai, said Nigeria is working on a pipeline infrastructure that would distribute gas to Europe.
Nigeria is on track in transitioning from dirty fuel to clean fuel, with gas being the preferred transition fuel. To effectively do this, Nigeria is working on a gas infrastructure with the capacity to meet its citizens’ demand, supply West African countries and be a reference for international markets.
- The latest data on Nigeria’s gas reserve shows a 1.42% increase from the 206.53tcf it was in 2021. The national gas reserves therefore stand at 209.5 trillion cubic feet.
- Nigeria is also pitching to be a major gas supplier to the European Union following Russia’s invasion of Ukraine. Although the Federal Government says the EU would have to increase its investment in gas and hydrocarbons for the country to level up.
Why it matters
With Nigeria being a major gas supplier, several sectors of the economy would benefit, including aviation and electricity. In addition, poverty and unemployment rates would reduce with an increase in the influx of forex.