Petroleum Africa
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Monday, February 3, 2020
In January, Nigerian officials and Chinese lenders concluded a deal that will see the West African country receive $2-5 billion in funding in what will become the country’s largest pipeline. The Ajaokuta- kaduna –Kano natural gas pipeline will traverse 614km at completion. The financing agreement with Chinese lenders is expected to be formalized by early Q2.
Once completed, Nigeria’s power generation capacity will rise to over 10,000 MW, up from the current generation capacity of about 7,000 MW. Three new captive gas-fired plants are also planned and will deliver around 3,600 MW of power. The plants will be located in Abuja, Kaduna and Kano.
The new pipeline and power plants are expected to greatly assist domestic customers who currently experience a lack of power or power outages.
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