1.

Nigerian Potential
a. General:
i. Nigeria is the most populous nation in Africa (~ 148 million)
(2008, State Department of US), and the 2 nd largest economy in
Sub-Saharan Africa with a GDP of $167.3 billion in 2009 ($357.2
billion PPP) (Corporate Nigeria 2009)
ii. Nigeria has vast reserves of natural resources:
1. Nigeria is a member of OPEC and its current oil production
averages between 1.6 million bbl and 2.1 million bbl per
day.
2. Nigerias proven oil reserves are estimated to be at 36.2
billlion barrels (Oil and Gas Journal/CIA Factbook)
3. Nigerias natural gas reserves are estimated to be at
5.229 trillion m3 (Corporate Nigeria 2009, BP Statistical
Energy Survey). In 2007, Nigeria produced 59.709 million
m3, but only 45.895 million m3 was utilized, while the rest
was flared (Nigerian National Petroleum Corporation). The
government plans to eliminate gas flaring by 2011, and is
currently a LPG exporter.
4.

Current estimates show that Nigerian government

depends on oil revenue for 90% of foreign exchange, 80%
of government revenue, and 20% of GDP.

2. The Strengths (PROS) of Mutual Cooperation between Thailand and Nigeria:

a. Because Thailand is primarily an export-driven economy that relies
heavily on the global demand for its exports, predominantly in
manufactured goods.
i. Thailand, whose manufactured products account for over 80% of
export revenue, requires the importation of raw materials that
accounts for 50% of the value of imports, excluding the import
value of petroleum (Bank of Thailand 2009);
1. In order for Thailand to increase its productivity and cost
reduction in the industrial sector, hence making its
exports more competitive with more productive countries
such as China and India, Thailand must search for new,
cheaper and reliable sources of raw materials.
b. As Thailand is a net importer of petroleum from overseas at between
800,000 bbl to 900,000 bbl per day, in addition to other petroleum

products for the use in manufacturing. Therefore, Thailand is reliant on

external sources of petroleum, and must search or conduct petroleum
exploration to ensure energy security.
c. Nigeria is country that possesses extensive reserves of natural
reserves, in particular, fossil fuels. Nigeria has the 7 th largest reserves
of natural gas and 10th largest oil reserves in the world (Nigerian
National Petroleum Corporation)
1. Nigerias proven oil reserves are estimated to be at 36.2
billlion barrels (Oil and Gas Journal/CIA Factbook) and
hopes for foreign partners to continue exploration to
achieve a 40 billion barrel reserve
2. Nigerias natural gas reserves are estimated to be at
5.229 trillion m3, but due to the lack of infrastructure, it
still flares up to 40% of the recovered natural gas
(Corporate Nigeria)
3. The government have begun an early project to create
and encourage the setting up of infrastructure to collect
natural gas, otherwise flared, to produce liquefied natural
gas (LNG and LPG).
a. The future of the LNG/LPG productivity and
profitability will be ensured by the plan of the
Federal Government to construct two major gas
pipelines (Corporate Nigeria, NIPC):
i. West African Gas Pipeline (WAGP) that will
provide gas to the Sub-Saharan region
ii. Trans-Saharan Gas Pipeline (TSGP) that will
connect Nigeria to Algeria, and potentially to
Europe