Germany Plans Investment in Nigeria’s $51bn Gas Sector

Chancellor of Germany, Olaf Scholz, has revealed his country’s plans to invest in Nigeria’s gas sector worth over $51 billion.

Scholz disclosed this when President Bola Ahmed Tinubu hosted him at the Aso Villa on Sunday.

According to the German leader, more investment in the gas sector positively impacts the global price of the product.

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He said: “If we are successful, if there is a better chance of exporting the produced gas, it is then the question for German companies to do their private business.

“This will also impact the global gas price; if more states offered gas on the global market, prices would decrease,”

“It is important to use the capacities where they are and that we diversify production all over the globe.”

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