Nigeria has signed a 16-year gas supply agreement with Indorama, a Thai chemical company, to enhance fertilizer production. The deal, announced by the Nigerian upstream regulator, is part of broader efforts to increase domestic energy production and support agricultural development. The agreement is expected to provide a steady supply of natural gas to Indorama’s fertilizer plants, helping to meet the country’s growing demand for agricultural inputs.
The partnership marks a significant step in Nigeria’s strategy to leverage its oil and gas resources for industrial and agricultural growth. The regulator has projected that 22 major projects will be launched in the next few years, signaling a renewed focus on investment in the upstream sector. This move comes as the government seeks to reduce reliance on imports and stimulate local manufacturing.
Indorama, which operates several fertilizer plants in Nigeria, has expressed confidence in the long-term viability of the agreement. The deal is expected to create jobs and contribute to the country’s economic development. The Nigerian government has been actively promoting such partnerships to diversify the economy and improve food security. (businessday.ng)
