The Nigerian National Petroleum Company Limited (NNPC) has committed N473.8 billion to major gas infrastructure projects. The financing was provided to NNPC Gas Infrastructure Company Limited (NGIC), a wholly owned subsidiary of NNPC. The funds will be used to meet cash call obligations for the Nigeria-Morocco Gas Pipeline, provide an equity injection into Anoh Gas Processing Company (AGPC), and finance the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project.
The Nigeria-Morocco Gas Pipeline, also known as the African Atlantic Gas Pipeline, is a proposed transnational project. It aims to transport Nigerian natural gas through several West African countries to Morocco. The proposed route will pass through Benin, Togo, Ghana, Côte d’Ivoire, Liberia, Sierra Leone, Guinea, Guinea-Bissau, The Gambia, Senegal, and Mauritania. The project is expected to connect Nigeria’s gas resources to markets along the West African coast and potentially provide an additional supply route to international markets.
The AKK pipeline is a major domestic gas transportation project. It intends to move gas from southern Nigeria to Abuja, Kaduna, and Kano. The project will support power generation, industrial activities, and other gas-consuming businesses in the northern part of the country. NNPC’s 2025 Audited Financial Statement (AFS) showed that N14.4 billion of the facility remained undrawn as of December 31, 2025.
NNPC’s lending to related parties increased substantially in 2025. At company level, loans to related parties rose to N939.253 billion from N185.544 billion in 2024. This represents an increase of N753.709 billion, or about 406.2 per cent. The 2025 balance included N211.642 billion lent to NNPC Energy Services Limited and N77.588 billion to Kaduna Refining and Petrochemical Company.
The NNPC’s financial statement also revealed that N25.7 billion in interest on the facility remained outstanding at the end of last year. The NGIC balance in the related-party loans table was higher than the N473.8 billion facility specifically described in the report. However, the financial statements did not explain the difference.
The disclosure provides fresh details of NNPC’s financial commitments to Nigeria’s gas infrastructure expansion. The company’s efforts aim to boost the country’s gas production and supply. The projects are expected to have a positive impact on the economy and support the growth of various industries.
The NNPC’s commitment to gas projects and loans to units highlights the company’s strategic focus on expanding Nigeria’s gas infrastructure. The projects will enhance the country’s energy security and provide new opportunities for economic growth. Key projects include the Nigeria-Morocco pipeline and AKK pipeline.
Key points
- NNPC commits N473.8bn to gas projects, including Nigeria-Morocco pipeline
- Loans to related parties rise to N939.253 billion in 2025
- Nigeria-Morocco pipeline to pass through 11 West African countries
