Nigeria is seeking $25 billion in investment for the ambitious Nigeria-Morocco Gas Pipeline project to transport gas to Europe, with VP Shettima inviting Vitol Group to partner on the venture
[dropcap]N[/dropcap]igeria is actively pursuing a monumental $25 billion undersea gas pipeline project aimed at transporting Nigerian gas to Europe via Morocco and the West African coastline.
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This ambitious initiative was revealed during a high-level meeting between Vice President Kashim Shettima and representatives of Vitol Group at the Presidential Villa in Abuja on Monday, June 2, 2025.
Vice President Shettima underscored that President Bola Tinubu’s recent economic reforms, including the removal of fuel subsidies, the unification of multiple exchange rates, and ongoing tax reforms, have strategically positioned Nigeria as a prime investment destination, particularly in the burgeoning energy sector.
“In the past 25 years, we have not had a leader who has the courage to take far-reaching decisions as he has taken—the removal of fuel subsidy, the unification of the multiple exchange rates, and the tax reforms,” Shettima stated.
The Vice President made a direct appeal to global investors to leverage Nigeria’s energy drive, asserting that President Tinubu is steering the nation onto a new trajectory. He described Nigeria’s gas sector as a “beacon of stability and transparency amid global uncertainty.”
“I will urge you to key into our nation’s energy transition programme. I want you to utilise your dominance in the Liquefied Natural Gas (LNG) and Associated Petroleum Gas (APG) sub-sectors,” Shettima urged Vitol Group.
He further elaborated on Nigeria’s strategic focus on gas: “The world is changing, and ours is actually a gas and not an oil economy. We have the eighth-largest gas reserve in the world. We really want to harness the potential in the gas sector fundamentally because of the stability and transparency in that arena.”
It is an expensive venture requiring about $25 billion, and of course, the technical expertise. We 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.
Shettima highlighted the reliability of existing gas ventures as a model: “The Nigeria Liquefied Natural Gas Limited (NLNG) has been largely insulated from government interference. What we are getting from the NLNG is so predictable. This is why we are seriously exploring the option of taking our gas to Europe.”
He acknowledged the substantial investment required for the undersea pipeline, noting, “It is an expensive venture requiring about $25 billion, and of course, the technical expertise. We 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.”
The Vice President concluded his appeal by urging Vitol Group to use its influence and goodwill to mobilize resources for the project, promising a “completely transparent management structure.”
Earlier, the leader of the Vitol Group delegation, Chief Financial Officer Jeffrey Dellapina, reiterated Vitol’s long-term commitment to Nigeria.
“This 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,” Dellapina said.
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Vitol Group’s Head of Public Affairs, Murtala Baloni, also highlighted the company’s favorable business relationship with Nigerian entities and the government, citing their $300 million contribution to Project Gazelle, a crude oil-backed forward-sale finance facility by the Nigerian National Petroleum Company Limited (NNPC Limited), during the COVID-19 period.
