President Goodluck Jonathan, on Wednesday in Addis Ababa, announced that Nigeria has mobilised 700 million dollars to support the completion of Nigeria-Algeria gas pipeline project.
Mr Jonathan made this known in a report on the status of the Trans-Saharan gas pipeline project, presented at the 30th meeting of the NEPAD Heads of State and Government Orientation Committee.
Represented by the Acting Minister of Foreign Affairs, Viola Onwuliri, the president renewed the commitment of Nigeria to jump start the project, which has an estimated cost of 20 billion dollars.
He said the immediate focus for Nigeria was to connect major gas supply sources in the Niger Delta region through pipeline infrastructure that traverses the northern half of the country and delivers gas to the Nigeria/Niger border.
“We have raised $450 million in Eurobonds and an additional direct equity contribution of about $250m in support of this project,