Managing Director/Chief Executive Officer of Integrated Gas and Energy Services, LLC, Mr. Emmanuel Anyaeto, has disclosed that Nigeria spends about $11 billion on the importation of petrochemical related products annually. Anyaeto, in his presentation at the Ghana Gas Forum, noted, however, that efforts are ongoing to revamp Nigeria’s petrochemical industry through massive private sector investments.
He said: “Nigeria built three petrochemical plants in Eleme, Warri and Kaduna. These plants have combined capacity to produce 240,000 metric tons of polyethylene; 130,000 metric tons of polypropylene; and 18,000 metric tons of carbon black per annum. A few years after operation, all the plants became moribund. A research conducted by the University of Benin, Nigeria, identified the reasons for collapse of the petrochemical plants to include irregular importation of feedstock, poor maintenance and lack of technical and managerial capacity.”
“One of the plants at Eleme was sold to Indorama Petrochemicals in 2006 and now operates at an annual average availability of 99 per cent, having newly-built largest single-train fertilizer plant in the world. Indorama today is building a petrochemical hub in Africa at Eleme. Nigeria spends about $11 billion on imported petrochemical related products in a year. You can understand why Dangote Industries is building one of the largest petrochemical complexes in the world in Nigeria.”