Saturday, October 18, 2025
31.4 C
Lagos

Nigeria May Lose LNG Market to Benin Republic

With a population of less than 12 million and a GDP of $10.35billion in 2018, Benin is often overshadowed by its massive neighbour, Nigeria.

Yet as African countries try to revitalize their energy sector, bring in private capital and develop gas-to-power, it is in West Africa and Benin that observers should look for positive developments.

With recent legislative reforms and a strong political will, the small West African nation is strengthening its place as the capital of the West African Power Pool (WAPP) and positioning itself as a big hub for gas and power in the sub-region.
On July 24, French super-major Total signed a Gas Supply Agreement and Host Government Agreement with Benin and its state utility, the Société Béninoise d’Energie Electrique (SBEE).

The agreement will see the development of a 0.5 mtpa Floating, Storage and Regasification Unit (FSRU), the first in West Africa. LNG supplies sourced from Total’s global portfolio are set to start in 2021 and last for 15 years.

spot_img
spot_img
spot_img

Hot this week

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Stanbic IBTC Bank, LOXEA BYD forge alliance for Electric Vehicle Financing

In a strategic move to advance Nigeria’s shift toward...

CBN, Bank of Angola Sign MoU on Technical Co-operation at IMF/World Bank Meeting

In an effort to enhance bilateral cooperation and technical...

NBS: Nigeria’s Inflation Falls to 18.02% in September, Lowest Level in Three Years

Nigeria’s headline inflation rate fell for the sixth consecutive...

NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

The Nigerian University Pension Management Company (NUPEMCO) celebrated the...

Topics

Mediacraft Associates Continues to Blaze the Trail in Awards

  Group CEO Voted ‘Legend of Marketing Comms’ John Ehiguese, CEO...

Stanbic IBTC Opens New Branch at Lagos Free Trade Zone

Stanbic IBTC Bank PLC, a member of Standard Bank...

Sterling Premieres Anthology of Nigerian Literature with Farafina 

L-R: CHIEF MARKETING OFFICER, STERLING BANK PLC, DAPO MARTINS;...

Anchor Insurance Holds 34th AGM in Lagos

L-R: Mr. Adebisi Ikuomola (Executive Director, Technical), Mr. Akinola...

NLNG Visits President Tinubu to Deepen Collaboration, Ease of Doing Business

  President Bola Tinubu (GCFR) with members of Nigeria LNG Limited’s...

Osinbajo to Open 2018 National Insurance Conference July 9

Professor Yemi Osinbajo, Vice-President, Federal Republic of Nigeria is...

2,000 Youths Benefit from NCC’s Digital Job Creation Program

  More than 2000 Nigerian youths from the Six Geopolitical...

AfDB Seeks US Support for $1.5bn Emergency Food Plan for Africa

The president of the African Development Bank Group, Dr....
spot_img

Related Articles

Popular Categories

spot_imgspot_img