Nigeria's AKK gas pipeline has reached the final phase of completion, with 70% of the work finished, said Nigerian National Petroleum Company's (NNPC) Chief Executive Mele Kyari.
"We have so far spent over $1.1 billion on this project from our cashflow," Mele Kyari noted.
Initially, the project was supposed to be partially financed by Chinese loans, but according to reports, Nigeria began looking for alternative financing for at least $1 billion, as Chinese lenders became reluctant to increase their share and fund the pipeline's construction.
The pipeline, which is projected to run for 614 km (382 miles), is a part of the 1,300 km-long Trans-Nigerian Gas Pipeline (TNGP) project, set to use the country's excess gas resources to generate electricity for businesses and household consumption.
That said, the Trans-Nigerian Gas Pipeline was designed to transport 11 to 24 million metric cubic meters of natural gas per day and will become part of the Trans-Saharan Gas Pipeline System.
That said, the Trans-Nigerian Gas Pipeline was designed to transport 11 to 24 million metric cubic meters of natural gas per day and will become part of the Trans-Saharan Gas Pipeline System.