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Nigeria, Morocco Sign Agreements on Gas Pipeline, Others

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  • Nigeria, Morocco Sign Agreements on Gas Pipeline, Others

The Federal Government and the Kingdom of Morocco on Monday in Rabat, signed three agreements as part of activities marking President Muhammadu Buhari’s two-day visit to the country.

According to a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, the agreements include that of a regional gas pipeline that will see Nigeria supplying gas to countries in West Africa sub-region, Morocco and Europe.

Shehu said signing of the agreements, witnessed by Buhari and King of Morocco, Mohammed V1, followed a meeting between the two African leaders.

The meeting, he stated, focused on strengthening economic relations on gas resource development, global investments, and agricultural training and management.

The statement read, “The feasibility study of the agreement on the pipeline, which was signed by the Group General Manager, Nigerian National Petroleum Corporation, Mr. Farouq Garba, and Mrs. Amina Benkhadra, director-general of the National Office of Hydrocarbon and Mines, will be concluded by July 2018.

“The construction of the pipeline will be phased and based on increasing needs of the countries crossed and Europe for the period of 25 years.

“The Nigeria Morocco Gas Pipeline, designed to be 5,660km long, will reduce gas flaring in Nigeria and encourage diversification of energy resources in the country, while cutting down poverty through the creation of more job opportunities.

“The NMGP will further encourage utilisation of gas in the sub-region for cooking, and discourage desertification.”

According to the presidential spokesman, the Chief Executive Officer and Managing Director, Nigeria Sovereign Investment Authority, Mr. Uche Orji; and the Chief Executive Officer, Office of the Management of Phosphate in Morocco, Mr. Mostafa Terrab, also signed a Memorandum of Understanding for the development of a chemical plant in Nigeria for producing ammonia and its derivatives.

He added that the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, and his Moroccan counterpart, Mr. Aziz Akhannouch, signed a cooperation agreement on vocational training and technical supervision to enhance skills on better management of agricultural outfits in Nigeria.

Shehu quoted Buhari as assuring the Moroccan King of Nigeria’s full commitment to the actualisation of all the agreements signed.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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