In an effort to monetise the Nigeria's gas reserves, the Nigerian National Petroleum Corporation (NNPC) and the Russian oil company, Gazprom have signed a Memorandum of Understanding (MOU) to establish a joint venture called ‘NiGaz Energy Company Limited’
However, the name NIGAZ, which sounds similar to a word that a lot of english-speakers consider to be derogatory and offensive, is now being spread across the web as a memorable PR blunder. Users on Twitter are reported to have first highlighted the negative connotations of the word "Nigaz".
Although the origin of the name is obvious-- from the words "Nigeria" and "gaz" -- the word when written down has different connotations to English-speakers.
People are still wondering why the Nigerian govenment would allow such an offensive word to be used and also speculate that the Russians allowed or ignored it because the offensive word is still widely used in Russia,.
The Group General Manager, NNPC Group Public Affairs signed on behalf of NNPC and said “This is a laudable feat that will go a long way to monetize Nigeria’s huge gas reserves as well as boost the revenue base of the country. The signing of the MOU on the company demonstrated our resolve to strengthen our bilateral relations as well as our commitment to pursue a common goal,”
The Director, Gazprom Netherlands signed on behalf of Gazprom and said Gazprom is ready to bring its expertise and experience to the new company and add significant value.
Nigaz plans to invest about $2.5bn in oil and gas exploration and build refineries, pipelines and gas power stations across Nigeria.
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