NNPC Earmarks N473.8bn for Gas Projects, Loans to Units Reach N939bn

Stories by Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) has committed N473.8 billion to major gas infrastructure projects, including the proposed Nigeria-Morocco Gas Pipeline, while N25.7 billion in interest on the facility remained outstanding at the end of last year.

The financing was provided to NNPC Gas Infrastructure Company Limited (NGIC), a wholly owned subsidiary of NNPC, 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.

Figures from NNPC’s 2025 Audited Financial Statement (AFS), showed that N14.4 billion of the facility remained undrawn as of December 31, 2025.

The disclosure provides fresh details of NNPC’s financial commitments to Nigeria’s gas infrastructure expansion, particularly the Nigeria-Morocco pipeline, a proposed transnational project expected to transport Nigerian natural gas through several West African countries to Morocco.

Also known as the African Atlantic Gas Pipeline, the project is designed to connect Nigeria’s gas resources to markets along the West African coast and potentially provide an additional supply route to international markets, including Europe.

The proposed route is expected to pass through Benin, Togo, Ghana, Côte d’Ivoire, Liberia, Sierra Leone, Guinea, Guinea-Bissau, The Gambia, Senegal and Mauritania before reaching Morocco.

Besides, the AKK pipeline is a major domestic gas transportation project intended to move gas from southern Nigeria to Abuja, Kaduna and Kano, supporting power generation, industrial activities and other gas-consuming businesses in the northern part of the country.

The financial statement also showed that 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, representing 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, N77.588 billion to Kaduna Refining and Petrochemical Company, N29.580 billion to Port Harcourt Refining Company, N113.327 billion to Warri Refining and Petrochemical Company and N485.173 billion to NGIC.

The NGIC balance in the related-party loans table was higher than the N473.8 billion facility specifically described in the report, although the financial statements did not explain the difference.