Nigeria and South Africa to partner on energy
8 August 2012
A news release made available to Cape Town journalists this week states that the government of South Africa will be partnering its Nigerian counterpart on the development of the energy sector.
According to the South African authorities, the move will boost the economies of both nations, with the final arrangements of the partnership currently being talked through.
The news comes after the group managing director of the Nigerian National Petroleum Corporation (NNPC) Austen Oniwon called for the South African government to explore the nation's energy investment opportunities, describing the Nigerian gas and oil industry as "limitless".
He also pointed to four key projects initiated by the Nigerian president Goodluck Jonathan that would enable the country to maximise its abundant natural gas resources to aid development.
With demand for electricity in South Africa skyrocketing due to the continent's expanding urban population, the deal is expected to be lucrative and highly beneficial to both parties.