Gas fuels GDP growth

Vast oil and gas reserves are the driving forces for Nigeria's future economic, social progress

Although Nigeria's socioeconomic development has accelerated in recent years, one inhibiting factor is the outdated power and energy sector that struggles to generate sufficient energy for business and residential premises.

This weakness in power generation and distribution infrastructure is being rectified with the help of foreign partners like China. Indeed, in September this year, the Nigerian government reached a favorable funding arrangement with the Export-Import Bank of China for the $1.3 billion 700 Mega Watts Zungeru hydroelectric power plant.