Kano, Nigeria Seeks to Attract Multi-Billion-Dollar Energy Investment from Morocco
Rabat – Nigeria and Morocco are stepping up efforts to strengthen bilateral ties through cooperation at all levels, including energy.
The Kano state government announced plans to attract over $10 billion in investments from Morocco within the coming five years.
The investments focus on renewable energy and solid minerals development, News Central reported today, quoting a statement from the Kano government.
The statement quoted the spokesperson for the governor, Sunusi Bature Dawakin-Tofa, who announced that Memoranda of Understanding (MoUs) will be signed between the two countries, encompassing different sectors on renewable energy, trade, and several other fields.
'According to Dawakin-Tofa, OCP proposed initiatives that include the establishment of fertiliser blending plants, modernised agricultural supply chains, and support programmes for smallholder farmers using advanced technology,' News Central reported.
Morocco and Nigeria are already forging good bilateral ties, as the two countries are working on a mega gas pipeline project that would serve over 13 countries.
The pipeline aims to benefit over 340 million people, with Morocco hosting 1,672 kilometers of the route.
Several countries have signed agreements with Morocco, endorsing the project. Morocco's Hydrocarbons and Mines Authority ONHYM, signed several Memoranda of Understanding (MoUs) with the Nigerian National Petroleum Company Limited (NNPC) and petroleum operators in different countries, including the Republic of Guinea, Liberia, Benin, and Cote d'Ivoire.
The agreements endorse the project, which is also supported by Mauritania and Senegal, as well as The Gambia, Guinea-Bissau, Sierra Leone, and Ghana, who also shared a commitment to the realization of this strategic project.
Morocco's government, as well as King Mohammed VI, have long celebrated the gas pipeline project, emphasizing its goal in bid to support accelerating socio-economic development across the continent.
The monarch highlighted the project's potential in several speeches, including during the 47th anniversary of the Green March. 'This is a project for peace for African economic integration and for co-development: a project for the present and for the future generations,' King Mohammed VI said.
The 5,600-kilometer-long pipeline project will span over 13 countries along the Atlantic coast, with the ambition of benefiting over 340 million inhabitants.
The pipeline, of which Morocco will be home to 1,672 kilometers of, will connect the Nigerian gas to Europe through Morocco, Mauritania, Senegal, Gambia, Guinea Bissau, Guinea, Sierra Leone, Liberia, Ivory Coast, Ghana, Togo, and Benin.
Investors contributing to the project are set to put in a budget of $25 billion to carry out the gas pipeline.
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