With plans to increase gas imports from Nigeria to the tune of 22 million tons annually, the most populous country in Africa will have a chance to generate income.
According to the report, Nigeria is second only to Algeria in terms of European interest (29 million tons). The research named eight additional African nations, in addition to Nigeria and Algeria, that would gain from the proposal, including Mauritania (10 million tons), Mozambique (19 million tons), the Democratic Republic of the Congo (1.2 million tons), and Tanzania (4 million tons).
Oil and gas exports account for 80 per cent of Nigeria’s yearly revenue, but most of the minerals are refined abroad due to the absence of functional refineries. The fresh deal comes at a time when the country has declared gas as its transitional fuel.
Director of Power Shift Africa, a think tank based in Nairobi, Mohamed Adow, told journalists at the COP27 conference in Sharm el-Sheikh, Egypt, that Europe was trying to make Africa its ‘gas station’ but was not providing enough money for renewable energy.
