Vice-President Kashim Shettima has announced that Nigeria is advancing plans for a $25 billion undersea gas pipeline project designed to transport natural gas to Europe via the West African coastline.
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STATE HOUSE PRESS RELEASE
VP Shettima: We Will Move Nigeria From Cocoa Production To Processing
** As Nigeria seeks $25bn investment for undersea gas pipeline to Europe
The Vice President, Senator Kashim Shettima @officialSKSM, has said the administration of President Bola… pic.twitter.com/QZTDxAf1gN
— Stanley Nkwocha (@stanleynkwocha_) June 2, 2025
Shettima made the disclosure on Monday during a meeting with executives from Vitol Group, the world’s largest independent commodity trading firm, at the Presidential Villa in Abuja.
The Nigeria-Morocco Gas Pipeline will connect Nigeria’s gas reserves to Morocco, with onward delivery to European markets.
Shettima described President Bola Tinubu’s administration as an unprecedented opportunity for international investors, citing bold economic reforms that have reshaped Nigeria’s investment landscape.
“President Tinubu combines expertise in both finance and energy a rare advantage in leadership,” he said. “In over two decades, no administration has taken such decisive steps from the removal of fuel subsidy to exchange rate unification and wide-ranging tax reforms.”
He urged global investors to take note of Nigeria’s renewed economic direction. “This is where the future lies. Invest in Nigeria,” Shettima said.
The Vice-President identified the gas sector as a stable and transparent pillar of Nigeria’s energy strategy, especially as global energy dynamics continue to shift.
Also Read: Nigeria to Revive Cocoa Industry, Boost Agricultural Value Chain- Shettima
He encouraged Vitol to participate in Nigeria’s energy transition, particularly in LNG and associated petroleum gas initiatives.
“Nigeria is fundamentally a gas economy. We have the world’s eighth-largest gas reserves, and our focus is to fully exploit that potential,” he stated.
Shettima emphasised that Nigeria’s gas operations, notably through NLNG, are transparent and less encumbered by government interference.
“NLNG revenues are consistent and dependable, which underpins our interest in expanding gas exports to Europe.”
Speaking on the undersea pipeline project, Shettima acknowledged its scale and cost — estimated at $25 billion — and stressed the need for technical expertise rather than just financial support.
“This project is technically complex. While capital is vital, we need your experience and global know-how to make it viable. Reliability of supply is critical, which is why the undersea route is being considered.”
He called on Vitol to bring its global reach and expertise to bear in supporting Nigeria’s infrastructure development.
“We are committed to full transparency in the delivery of this project. I invite you to be part of this transformative initiative.”
In response, Vitol Group’s Chief Financial Officer, Jeffrey Dellapina, reaffirmed the company’s longstanding relationship with Nigeria.
“Nigeria has always been a strategic partner for Vitol. We’ve collaborated across various sectors, including downstream operations, financing, trading, and government partnerships,” Dellapina said.
He assured that Vitol remains keen to deepen its investments in the country.
“We’re here for the long term. Our aim is to grow alongside Nigeria.”
Also speaking, Vitol’s Head of Public Affairs, Murtala Baloni, highlighted the company’s collaborative efforts with Nigerian stakeholders.
“We support government-led initiatives wherever possible, including mobilising capital where necessary,” Baloni said.
He also cited Vitol’s involvement in Project Gazelle, where the company provided $300 million to NNPC Limited during the COVID-19 pandemic.
Vitol Group’s Nigeria Country Manager, Thomas de Montulé, was also in attendance at the meeting.
