Mallam Mele Kolo Kyari, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), speaks at the Brass Fertilizer Announcement of Final Investment Decision in Abuja, Nigeria's Capital.

Nigeria’s $3bn-Methanol Plant: NNPC, partners take Final Investment Decision

Amaka E. Nliam

Last updated Jan 30, 2021

The Nigerian National Petroleum Corporation (NNPC) @NNPCgroup, the Nigerian Content Development and Monitoring Board (NCDMB) @OfficialNCDMB and DSV Engineering have taken Final Investment Decision (#FID) for a whooping $3bn-Methanol Plant project, the first of its kind in Nigeria.

The Integrated Methanol and Gas Project in Odioma, Brass Island, Bayelsa State, Southern Nigeria, is a partnership between @OfficialNCDMB and @NNPCgroup . It is being developed by Brass Fertilizer and Petrochemical Company Limited (BFPCL), an incorporated company, which has @NNPCgroup, @OfficialNCDMB and DSV Engineering as Shareholders.

Speaking at the Signing Ceremony and Announcement of Final Investment Decision- which took place in Abuja, Nigeria’s Capital City- the #NCDMB remarked,“Today’s significant milestone of achieving the FID has the backing of @NigeriaGov for the construction & operation of the first Methanol plant in Nigeria.”

On his own part, the NNPC Boss, Mallam Mele Kolo Kyari, enthused, “When completed, the BFPCL Project will bring about Three Billion Dollar foreign direct investment, generate employment of 30,000 jobs during construction period and 5,000 during operations. This is a huge milestone.

“The fact that we are able to take #FID today on a project of this magnitude is a testimony to Federal Government’s commitment to develop the nation’s abundant gas resources, to monetize & deepen gas utilization in-country, and ultimately to create value for the over 200million Nigerians.” #BrassFertiliser_FID #DecadeOfGas

VIDEO:

The moment Shareholders of the BFPCL – @NNPCgroup, @OfficialNCDMB and DSV Engineering – signed the Addendum to the Shareholders' Agreement, signifying the taking of Final Investment Decision (#FID) on the Project. #BrassFertiliserFID #DecadeOfGas pic.twitter.com/6RK0gTUDMF

— NNPC Group (@NNPCgroup) January 29, 2021

Amongst those present at the occasion were Nigeria’s Minister of State for Petroleum Resources, H.E Timipre Sylva; Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kolo Kyari; and the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote & partners, to mention a few.

PHOTOS:

Engr. Simbi Kesiye Wabote (@wabote_simbi) FNSE, Executive Secretary NCDMB, @MKKyari, GMD @NNPCgroup and representative of DSV Engineering in a group photograph shortly after signing the Addendum to the Shareholders Agreement. pic.twitter.com/EcuCyksIhk

— NCDMB (@OfficialNCDMB) January 29, 2021

Amaka E. Nliam