Nigeria, other African nations secure only $13.7bn of $150bn gas investment


Nigeria and other African countries pushing for energy transition with gas as a temporary option may face serious challenges in securing capital for power plants and gas infrastructure.

Although there are about $62 billion in planned power generation projects on the continent and another $89 billion in planned gas pipeline projects, translating to $151 billion, only $13.7 billion worth of the projects, translating to 9.07 per cent, is under construction, a new report by the Natural Resources Governance Institute said on Wednesday.

The report, which examined risk, renewable options, environmental concerns, energy security, and funding, noted the need for proper planning, especially looking at options depending on countries.

NGRI’s Tengi Gorge-Ikoli and Aaron Sayne noted in the report that as the world moves away from fossil fuels, pro-gas voices in and outside of government should explain to the public why gas is the best fuel to help their country reach its…

Source: Guardian Newspaper