Morocco and Nigeria have signalled their readiness to collaborate on the construction of a giant natural gas pipeline which would serve as the engine for widespread economic development throughout west Africa and connect the region to Europe.
The Trans-African Pipeline project was announced by King Mohammed VI of Morocco and President Muhammadu Buhari of Nigeria during his visit to Nigeria last week, aiming to connect Nigeria's prodigious gas resources with Morocco and several other west Africa countries.
Ithmar Capital, the Moroccan sovereign wealth fund together with the Nigeria Sovereign Investment Authority (NSIA) will jointly underwrite the project. Further they will cooperate on bilateral investment for the first time in recent memory. Under the deal, strategic sectors including food security, renewable energy and infrastructure will receive particular attention.
According to Nigerian Minister of Foreign Affairs Dr Geoffrey Onyema, the "South-South open platform will accelerate the structural transformation of the national economies of the region, thereby putting the entire region on a higher growth path." A Bilateral Coordination Body to monitor the project will be set up for strategic cooperation in Africa.