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Introduction

Africa’s economic pulse has quickened drastically since the beginning of the new millennium, hence infusing the continent with a new commercial vibrancy. Africa's GDP rose by 5% a year that is twice its pace in the 80s and 90s. This was a positive signal to encourage the private investment inflows to surge into the African economy, especially with the presence of potential Oil & Gas resources.

Nigeria has one of the fastest growing economies in Africa; with a population estimated around 160 Million people and potential Natural resources especially in Hydrocarbons. Nigeria has significant Oil & Gas reserves compared to the combined reserves of other West African Producers. Its Proven Oil Reserves in 2011 was estimated at 37.2 Billion Barrels and the associated/non-associated Gas is estimated in excess of 160 trillion cubic feet.

Nigeria is ranked amongst the 10 largest proven natural gas reserves in the world, with projected resources (reserves/production) to last for 109 years.