By Priya Raman

Nigeria is seeking UAE backing for a $25-26 billion Nigeria-Morocco gas pipeline, with the Nigerian National Petroleum Company Limited (NNPC) inviting ADNOC to finance the project.

NNPC Group Chief Executive Bashir Bayo Ojulari raised the request during an interview at ADIPEC in Abu Dhabi. He said the discussions followed a September agreement signed by countries along the proposed route. Funding is the immediate decision. The broader commercial sequence is longer.

What does the pipeline carry?

The 6,800-kilometre line, led jointly by NNPC and Morocco’s ONHYM, is designed to carry up to 30 billion cubic metres a year through 13 Atlantic coastal countries.

Its stated cost is $25 billion, about AED 91.8 billion, while the UAE financing discussion covers an estimated project cost of $25-26 billion.

NNPC said in June: “15 billion cubic meters (bcm) a year would go to Morocco and on to Europe.” The allocation equals half of the line’s maximum annual design capacity and gives the project a clearly defined commercial outlet.

How will the build be phased?

Ojulari said the project would proceed in phases and would include the existing West African Gas Pipeline, in which NNPC holds a 24.9 per cent interest.

The new route would extend to Sierra Leone, where it would earn revenue before reaching the next country. That sequencing matters.

The planned revenue point gives the phased expansion an intermediate commercial milestone before the route advances. NNPC’s 24.9 per cent holding also gives the company equity exposure to the existing asset that the expansion will incorporate.

What changes in 2027?

Nigeria, Algeria and Niger have aligned on a funding structure for the $10-13 billion Trans-Saharan Gas Pipeline, equivalent to AED 36.7-47.7 billion.

Ojulari expects discussions on a final investment decision (FID), the formal go-ahead for construction, to begin in 2027.

Zawya reported that the 4,327-kilometre line also involves Sonatrach and Niger’s SONIDEP. Construction of the new Algerian section began in June 2026, according to Zawya.

The 2027 milestone applies to the Trans-Saharan component, while the 6,800-kilometre Nigeria-Morocco scheme remains in search of a UAE funder. That distinction matters because FID discussions do not themselves constitute final approval.

How is NNPC preparing for an IPO?

At ADIPEC, Ojulari said: “NNPC has set no timeline for an initial public offering.” Preparation is done. Timing is not.

NNPC has nevertheless completed a business assessment that used advisers on Aramco’s initial public offering, he said.

He told Reuters that the company is considering selling 5 per cent to 10 per cent of its equity, with the offer aimed mainly at Nigeria’s domestic market. The baseline assessment was submitted in September.

That timetable leaves the equity sale as an option, even though preparatory work is complete and Nigerian investors would form the main audience. Strategically, NNPC is pursuing two forms of support at once: ADNOC for the pipeline and domestic investors for a possible equity sale.

What are the financing stakes?

ADNOC’s willingness to back the project is the first external test. The 2027 date concerns FID discussions for the Trans-Saharan line, not an automatic construction start.

NNPC’s proposed 5-10 per cent offering also has no launch date, so the sale cannot yet be treated as committed capital.

The financing sequence is clearer than the construction sequence. NNPC has completed an assessment, submitted the baseline in September and is considering a sale aimed mainly at domestic investors.

The Trans-Saharan sponsors will test the investment case in 2027. Until then, the UAE request and the possible NNPC offering remain the two most consequential capital decisions attached to the company’s pipeline strategy.