The Federal Executive Council (FEC) has approved the Nigerian National Petroleum Corporation (NNPC) proposal to ink an agreement with the Economic Community of West African States (ECOWAS) to construct the Nigeria-Morocco gas pipeline.
FEC approved the proposed gas pipeline project on Wednesday, June 1, 2022, at the weekly meeting chaired by the vice-president Yemi Osinbajo in Nigeria’s capital, Abuja.
Speaking at the end of the meeting, the Minister of State for Petroleum Resources, Timipre Sylva, said the project was still at the designing and engineering stage, and a precise cost would be established once the designing stage is completed.
Sylva said the proposed pipeline would traverse 15 African countries and supply the much-needed natural gas to Spain.
“The ministry of petroleum resources presented three memos to the council,” said Sylva.
“In the first memo, the council approved for the NNPC Ltd to execute MoU with ECOWAS for the construction of the Nigeria-Morocco gas pipeline. This gas pipeline takes gas to 15 West African countries and Morocco and through Morocco to Spain and Europe.”
Since Russia invaded Ukraine in February 2022, global leaders have been pushing to adopt a punishment for Russia’s military activities in Ukraine, with the EU announcing a collective agreement to ban 90% of Russian oil imports by the end of 2022.
Following the ban on Russian oil imports to Europe, Sylva said Nigeria was ready to close the gap by becoming an alternative oil supplier to Europe through the Nigeria-Morocco gas pipeline, which would stretch to Spain.
According to the minister, the council also approved about $9 million (N3.8 billion) to foot up the construction of the switchgear room and as well as the installation of distribution equipment and cables for the Nigeria oil and gas park Ogbia, Bayelsa state. According to the minister, FEC also approved many other contracts, including the construction of access bridges and roads to the famous Brass Petroleum Product Terminal (BPPT) in Niger Delta, worth N10.5 billion and an additional 7.5 percent value-added tax (VAT).