Nigeria-Morocco Pipeline Opens New Possibilities

Nigeria-Morocco Pipeline Opens New Possibilities

REUTERS

Nigeria and Morocco have signed a joint venture to construct a gas pipeline that will connect the two nations and other African countries to Europe.

The agreement was reached during a visit by Morocco’s King Mohammed to the Nigerian capital, Abuja, said Geoffrey Onyema, Nigeria’s minister of foreign affairs.

Onyema said the project aims to create a competitive regional electricity market with the potential to be connected to European energy markets. No timeline was given for when the pipeline construction will start and how much it will cost.

“Nigeria and the kingdom of Morocco also agreed to develop integrated industrial clusters in the subregion in sectors such as manufacturing, agro-business and fertilizers to attract foreign capital and improve export competitiveness,” Onyema said.

Nigeria is rich in oil but produces little electricity, making its industries less competitive. Its economy faces a recession caused by a plunge in crude prices.

Militants in the oil-producing Niger Delta have blown up pipelines in a quest for a bigger share of Nigeria’s oil wealth, which also cut crude output in 2016.

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