The minister of state for petroleum, Dr Ibe Kachikwu, said African Petroleum Producers Organisation (APPO) in partnership with other countries in the continent will mobilise $1billion to fund critical infrastructure for collaboration between African Countries.
Kachikwu said this on Monday in a speech at the second edition of the Nigeria Petroleum Summit (NIPS), with the Theme: Sharpening the Through Efficiency and Innovation, holding in Abuja.
According to him, African Petroleum Producers Organisation (APPO) is made up of 18 member oil producing countries, accounts for nearly 95 per cent of Africa’s oil production and at least 13% of world production.
He said a major reform aimed at repositioning the organisation and make it relevant was recently completed.
He said, the reforms identified by the APPO included an increased synergy that would help mobilize the investment needed to facilitate and deliver the major infrastructure required by the continent, such as trans-border gas and oil pipeline, joint refineries, gas plants and others.
Kachikwu said a presentation to the APPO council of ministers at the weekend was made on all the new changes needed to be done in the organisation.
“Today most African Countries are silos doing things their own ways, building their own refineries, plants and gas turbine.
“If we could just cross the Rubicon and be able to extend hands of infrastructural relationship across Africa; build joint pipeline, plants and refineries; begin to protect the African market, we would have taken a huge step, not only in the development of Africa, but to the stabilisation of independent countries.
On his part, Group Managing Director, Nigeria National Petroleum Corporation, Makanti Baru, said there is need to collaborate especially I’m area of infrastructure.
He said, “Today, Nigeria and Morocco are collaborating to construct a gas pipeline that will traverse at least 15 West African countries and connect the existing Europe gas pipeline. The feasibility study has been concluded and the Pre-FID greenfield optimisation study is currently ongoing. He noted that the pipeline will help in the industrialisation of these countries, “It will also meet the needs of consumers for heating and other uses. Will gas as a fuel to take Africa to the next level.
He said, that New gas discoveries have been recorded offshore Senegal, Mauritania, Mozambique and are in various stages of development.
He said, “Nigeria is also targeting to take FID on LNG Train 7 this year. So African countries need to collaborate and trade among each other not only in terms of oil and gas but also in other key sectors so that the multiplier effect is seen across our various economies.
