WATCH THE VIDEO HERE THE Federal Government, through the Nigerian National Petroleum Company Limited (NNPCL), has approved a gas sales agreement for the $3.3 billion Brass Fertilizer & Petrochemical Company Ltd. This deal will supply gas to the methanol-manufacturing project. The signing ceremony was attended by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, alongside Shell, TotalEnergies, and Agip, marking a milestone in efforts to harness Nigeria’s vast gas reserves for economic growth. He said the gas sales-and-purchase agreement was signed with Shell, TotalEnergies and Agip yesterday in Abuja, nine years after the project was first announced. Ekpo emphasized that this agreement is a major step towards industrializing Nigeria and will bring much-needed Foreign Direct Investment (FDI) while creating thousands of jobs. The project is expected to generate more than $1.5 billion annually from the export of fertilizers, petrochemicals, and other gas-based products and will also cut fertilizer imports by 30%, saving Nigeria $200 million annually. The NNPCL and its partners will supply an estimated 270 million standard cubic feet of gas per day to the project, located on Brass Island, Bayelsa State. The project is part of the Decade of Gas initiative under President Bola Tinubu’s administration, aimed at positioning gas as a key driver of industrialization and energy security. It is projected to contribute around $600 million to Nigeria’s GDP annually, creating over 5,000 direct jobs and 35,000 indirect jobs, particularly benefiting the Niger Delta region.
FG approves gas supply to $3.3b methanol plant
