VIDEO: Shettima meets WEF President, seeks support for African Gas Pipeline projects

By Kunle Sanni

The Federal Government has announced plans to collaborate with the World Economic Forum (WEF) to promote economic development and growth in Nigeria and across the African continent.

The government is seeking partnerships with WEF on initiatives such as the African Atlantic Gas Pipeline (AAGP), which aims to connect Nigeria with Morocco and other African nations. It also plans to recharge Lake Chad to address global food security challenges and other pressing issues.

Vice President Kashim Shettima made these statements during a bilateral meeting with Mr. Børge Brende, the President of the World Economic Forum, held on the sidelines of the ongoing annual WEF meeting in Davos, Switzerland.

Regarding the African Atlantic Gas Pipeline, Vice President Shettima highlighted the importance of leveraging the WEF platform to advance the project. He emphasized that the pipeline would address Europe’s energy challenges while meeting the increasing energy demand driven by artificial intelligence, data mining, and storage.

He stated, “We seek your collaboration in fundamental areas. One is the African Atlantic Gas Pipeline (AAGP), which will connect Nigeria to Morocco and other African countries. The pipeline will transport natural gas from Nigeria to North Africa and Europe, improving energy security and fostering economic growth in the region.

“With the geopolitical challenges in Europe stemming from Russian gas issues and the rising demand for energy due to artificial intelligence, data mining, and storage, we are well-positioned to capitalize on this opportunity.

“Many littoral states in West Africa with gas reserves are willing to integrate into the system, supplying gas to end users. We are also exploring undersea pipeline routes to ensure a mutually beneficial outcome. We want to utilize the WEF platform.”

Vice President Shettima also noted that while Nigeria is rich in gas resources, the country is committed to maximizing these opportunities to drive economic growth and create wealth for its population.

“Nigeria is more of a gas nation than an oil nation. Given our young and growing population, we must act swiftly to harness our resources in our enlightened self-interest. Gas offers us the best opportunity to generate wealth for our people,” he added.

On the issue of recharging Lake Chad, Vice President Shettima said that revitalizing the lake would not only address food security challenges but also support clean energy generation and counter terrorism.

“There is an intrinsic relationship between economy and ecology in the Sahel region. The challenges posed by Boko Haram and ISWAP are partly tied to the existential threats we face.

“Lake Chad, which was once 25,000 square kilometers, has now shrunk to 2,000 square kilometers. We are considering recharging Lake Chad using water from the Congo River basin, the second largest river basin in the world, whose waters currently flow into the Atlantic. Utilizing your platform, we aim to achieve this recharge.

“This initiative will enable us to generate significant hydropower, change the agricultural landscape of the region with a 2,400-kilometer canal, and tackle the global food security crisis,” he said.

Vice President Shettima also informed the WEF President about the reforms being implemented by President Bola Ahmed Tinubu’s administration, noting that these efforts are steering Nigeria toward sustained economic growth.

“My leader and boss, President Bola Ahmed Tinubu, who grew up in the finance ecosystem, has been a transformative leader. From the first week in office, he made bold decisions such as subsidy removal, exchange rate alignment, and tax reforms. These efforts have set our economy on a path of sustained growth,” he said.

The Vice President invited the WEF President to Nigeria to meet with President Bola Ahmed Tinubu and expressed Nigeria’s readiness to host the WEF Africa.

Highlighting Nigeria’s strategic importance, Vice President Shettima said, “Apart from being Africa’s largest economy, Nigeria is the continent’s most populous nation with 250 million people.

“By 2050, we will surpass the United States as the third most populous nation globally, and by the end of the century, we are projected to be the most populous nation on earth.”