The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has assured that the Gas Revolution Agenda aimed at using the nation’s abundant gas resources to galvanise all-round economic growth is making steady progress towards achieving its objective. This, she assured, will make Nigeria poised to control 10 per cent of the global fertiliser market by 2017.
The minister, who spoke at a plenary session of the 19th Nigerian Economic Summit titled, “Building a World Class Petrochemical and Fertiliser Industry in Nigeria,” disclosed that the need to get the gas sector to drive growth in all sectors of the economy especially the agricultural sector, necessitated the removal of some key areas of the Gas Master Plan from the petroleum industry bill, PIB, for accelerated implementation under the Gas Revolution Agenda. She also added that the programme has begun to yield dividends, with plans for the establishment of a number of new fertiliser plants at advanced stage.
The minister listed some of the proposed fertiliser plants to include the Dangote Petrochemical and Fertilizer Plant to be built at Olokola, Indorama Fertiliser Plant at Eleme, Brass Fertiliser Company at Brass, Nagarjuna Fertiliser Plant at Ogidigben, and another plant by the International Fertiliser Association.
She explained that with most of the fertiliser plants billed to come on stream by 2017, Nigeria is being positioned to control 10 per cent of the global fertiliser market by then.
Speaking further on the gas policy framework, Alison-Madueke explained that the thrust of the two-pronged policy of gas-to-power and gas-to-industries is to drive linkages between the power and industrial sectors with the agricultural sector serving as a linchpin in the industrial sector on account of its enormous job creation potential and multiplier effect in the economy.
Information from Leadership was used in this report.