Punch: Nigeria needs N8.7tn investment for gas infrastructure – AFC

The Africa Finance Corporation says $53bn investment is required to address the huge deficit in gas infrastructure in the country.

The President and Chief Executive Officer, AFC, Mr. Andrew Alli, in his presentation at the Lagos Business School’s Executive Breakfast Session on Monday, said there was huge potential for private sector participation, but there were also a number of bankability issues, especially with regards to off-take.

According to him, $4bn is required for gas processing hubs, $29bn for pipelines, $5bn for Liquefied Natural Gas trains and $14.5bn for LNG vessels.

He said $40bn was required for new electricity generation capacities ($25bn for private sector assets and $15.2bn for public sector assets), while $11.4bn would be needed for the upgrade of the transmission grid.
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