Nigeria unfolds gas revolution agenda for industrialisation
Africa, Headlines Monday, March 21st, 2011
The Nigerian government yesterday reeled out a major plan to fast-track Nigeria’s industrial rebirth through a gas revolution anchored on the construction of two world scale petrochemical plants two fertilizer plants, five fertilizer blending plants, a methanol plant and a Liquefied Petroleum Gas (LPG) distribution plant.
The planned industrial revolution is expected to result in Foreign Direct Investment (FDI) in-flow of over $10 billion between 2012 and 2014, as well as generate over 700,000 jobs.
Disclosing this yesterday at a press briefing in Abuja, Minister of petroleum resources, Mrs. Diezani Alison-Madueke, said these industrial investment agenda would form the catalyst for a major re-industrialisation of the country.
“The combination of the planned investment will, in one swoop, result in the most significant in-flow of foreign direct Investment of over $10 billion between 2012-2014 when all the plants will be operational. Based on our planned investment in the 1.3 million tonne per annum capacity petrochemical plant, it is expected that over 200,000 direct and indirect jobs will be created,” she said.
Speaking further, she informed that the delivery of the fertilizer plants agenda will link the agriculture sector, and enable millions of Nigerians access food, while also creating over 500,000 jobs which will arise from the boost in agricultural productivity and related agro and food processing industries.
She stated that the revolution would also significantly improve power availability and reposition Nigeria as the regional hub for gas based industries, and grow the nation’s gas supply from the current 1 billion cubic feet per day, to over 10 billion cubic feet per day by 2020.
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