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By Aduragbemi Omiyale
4 important Memoranda of Understanding associated to the Nigeria-Morocco Fuel Pipeline venture have been signed by Nigeria and 4 different African international locations.
The offers have been signed on Friday, June 16, in Abuja by the Nigerian Nationwide Petroleum Firm (NNPC) Restricted, the Workplace Nationwide des Hydrocarbures et des Mines (ONHYM) of Morocco, the Société Nationale des Opérations Pétrolières of Cote d’Ivoire (PETROCI), the Nationwide Oil Firm of Liberia (NOCAL), the Société Nationale des Hydrocarbures of Benin (SNH-Benin), and the Société Nationale des Pétroles of the Republic of Guinea (SONAP).
They’re just like these signed with ECOWAS on September 15, 2022, Mauritania and Senegal on October 15, 2022, and The Gambia, Guinea-Bissau, Sierra Leone, and Ghana on December 5, 2022.
The venture will improve the monetisation of the affected African international locations’ pure gasoline assets and provide a brand new different export path to Europe.
It is going to additionally contribute to accelerating entry to power for all, enhancing the residing circumstances of the populations, integrating the economies of the sub-region, and mitigating desertification.
It is going to obtain these objectives by the availability of a sustainable and dependable gasoline provide that aligns with the continent’s new environmental commitments whereas offering Africa with a brand new financial, political, and strategic dimension.
Talking on the venture’s Steering Committee assembly, the place the MOUs have been sealed, the group chief govt of NNPC, Mr Mele Kyari, thanked the Nigerian authorities for entrusting the corporate with this strategic venture because the nationwide power firm.
“As a business enterprise, NNPC sees this venture as a possibility to monetise Nigeria’s considerable hydrocarbon assets by increasing Entry to power to help financial development, industrialisation, and job creation throughout the African continent and past,” he stated.
Additionally, the Director-Basic of ONHYM, Amina Benkhadra, stated that the gathering represents a progressive step in making certain social and financial improvement by power safety and accessibility geared in direction of attaining whole improvement of Africa by Africans.
In his remarks, the ECOWAS Commissioner for Infrastructure, Power and Digitisation, Mr Sédiko Douka, stated the gasoline pipeline venture is important as it’s going to assist strengthen the area’s electrical energy manufacturing/technology capability, stimulate industrial and agricultural improvement, and contribute to the power transition through the use of a supply of power that’s cleaner than different fossil fuels.
The assembly was attended by representatives from ECOWAS and all of the collaborating international locations, together with Nigeria, Benin, Togo, Ghana, Côte d’Ivoire, Liberia, Sierra Leone, Guinea, Guinea-Bissau, The Gambia, Senegal, Mauritania, and Morocco.
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