FRCN HQ
Business Economy Headline News Nigeria Oil&Gas

Nigeria, Equatorial Guinea partner to boost gas production

Equatorial Guinea Minister of Mines and Hydrocarbons Mr. Gabriel Lima

The Minister of Mines and Hydrocarbons of Equatorial Guinea Mr. Gabriel Lima, says his country is in talks with the Federal Government to enter into a commercial partnership to boost gas production.

He made this known in Abuja while speaking with journalists following the unveiling of the Nigerian National Petroleum Company NNPC Limited.

According to Mr. Lima, strengthening the bilateral relations on oil and gas with Nigeria is geared toward eradicating energy poverty, and increasing and utilizing gas supply for the benefit of African citizens.

He explained that Equatorial Guinea was working closely with Nigeria towards utilizing Gas resources for the benefit of both countries, especially for the purpose of eradicating energy poverty.

He said the Russian-Ukraine war had both positive and negative impacts on Africa, but stressed the need to leverage the positives for the benefit of the continent.

He said that this is also the time for gas-producing countries of Africa to increase gas production for export to generate more revenue.

The Equatorial Guinea Minister of Mines and Hydrocarbons however urged oil and gas producing countries in Africa to learn from the negative impact of the Russian-Ukraine war on their economies and focus on creating their own market.

He said one of the critical things Africa should focus on is how to create its own market by collaborating to work as a bloc rather than individually.

Mr. Lima also hinted that strengthening the bilateral relations between Nigeria and Equatorial Guinea goes beyond the oil and gas sector to expanding trade, establishing a direct air link between both countries and sharing expertise among many others.

Reporting by Hamza Alkali, editing by Daniel Adejo