VP Shettima with Vitol Group representative
Vice-President Kashim Shettima says Nigeria is pursuing a $25 billion undersea gas pipeline project aimed at supplying natural gas to Europe through the West African coastline.
Shettima disclosed this on Monday during a meeting with Vitol Group, the world’s largest independent commodity trader, at the Presidential Villa in Abuja.
The Nigeria-Morocco Gas Pipeline will deliver gas from Nigeria to Morocco, then onward to Europe.
Shettima said President Bola Tinubu’s leadership marks a unique opportunity for international investors, especially with major reforms reshaping Nigeria’s economy.
He noted Tinubu’s bold reforms have positioned Nigeria as an attractive destination for investment, particularly in the energy and infrastructure sectors.
“Most importantly, it’s about leadership. President Tinubu understands both energy and finance, having emerged from that professional ecosystem.
“For 25 years, no leader has made such bold decisions — removing fuel subsidy, unifying exchange rates, and implementing broad tax reforms,” Shettima stated.
He called on investors to recognise the new economic direction under Tinubu. “This is where the action is. Invest in Nigeria,” he urged.
Shettima described Nigeria’s gas sector as a stable and transparent space, well-positioned amid global energy uncertainty and shifting demand patterns.
“I urge you to engage in our energy transition plans. Use your expertise in LNG and Associated Petroleum Gas.
“The world is shifting. Nigeria is a gas economy, not an oil one. We have the world’s eighth-largest gas reserves,” he told Vitol executives.
He said Nigeria wants to fully harness gas potential, thanks to the sector’s transparency and reduced government interference, particularly in NLNG operations.
“What we earn from NLNG is steady and reliable. This is why we’re exploring gas exports to Europe,” he said.
Shettima confirmed the undersea gas pipeline is an expensive project, estimated at $25 billion, and will require significant technical knowledge.
“We need your expertise more than your money. Gas supply reliability is key, which is why the undersea option is on the table,” he explained.
He appealed to Vitol to support Nigeria’s infrastructure ambitions, bringing its global network and technical skill into the project.
“We urge you to use your global influence and resources. The project will be managed with full transparency.
“I sincerely invite you to join us in making this project a success,” Shettima said.
Vitol Group’s Chief Financial Officer, Jeffrey Dellapina, reaffirmed the company’s long-standing commitment to Nigeria’s energy sector.
“Nigeria has been a close and crucial partner for Vitol. We’ve contributed across downstream, finance, trading and government collaboration,” Dellapina said.
He reiterated that Vitol is prepared to invest further. “We remain committed to this country and want to grow alongside it,” he said.
Vitol’s Head of Public Affairs, Murtala Baloni, also acknowledged the company’s strong relationship with Nigerian partners and institutions.
“We support government efforts where we can, including deploying capital where needed,” Baloni said.
He disclosed Vitol’s role in Project Gazelle, where the company provided $300 million to NNPC Limited during the COVID-19 pandemic.
Also present at the meeting was Thomas de Montulé, Vitol Group’s Nigeria Country Manager. (NAN)
