The Nigeria-Morocco Gas Pipeline is among the most notable investment projects through which Morocco hopes to help Africa achieve financial independence. This is according to Morocco’s King Mohammed VI.
In a message delivered on his behalf by Minister of Economy and Finance Fouzi Lekjaa during the launch conference for the African Forum of Foreign Investors (ASIF), held in Rabat, the Moroccan King named the project as one of the key projects that will steer Africa into great energy independence.
“We can also point to the exerted efforts to accelerate financial integration in the continent, as well as projects aiming to enforce the continent’s energy efficiency such as the huge gas pipeline linking Morocco and Nigeria,” said Mohammed VI
The Nigeria-Morocco Gas Pipeline project was inaugurated by King Mohammed VI in December 2016 during a visit to Abuja, with its feasibility test starting in May 2017 and costing hundreds of millions of dollars.
The project which is designed to transport Nigerian natural gas to 13 countries in West and North Africa is envisioned to stretch for around 7,000 km making it one of the world’s longest offshore pipelines.
It will be expected to export gas to Spain and Europe through Morocco, shortly after arriving in the North African kingdom.
At the beginning of this month Nigeria’s government approved an agreement between the Nigerian National Petroleum Corporation (NNPC) and the Economic Community of West African States (ECOWAS) to start construction of the pipeline. The project has received a huge backing from international development partners and experts in spite of it still being in the planning and engineering phases
In the statement, King Mohammed also noted that Africa is in dire need of a “real and sustainable investment industry” that would mobilize capital sustainably and ensure that Africa’s financial markets are well integrated.
“Access to capital remains timid and mainly dominated by funding from agencies and development banks, Africa needs to assert itself,” he said
