Osinbajo to inaugurate $1.5 billion fertilizer plant in Port Harcourt

Acting President, Yemi Osinbajo [Photo Credit: Pulseng]
Acting President, Yemi Osinbajo [Photo Credit: Pulseng]

The Acting President, Yemi Osinbajo, will on Thursday inaugurate a new world-class fertilizer plant built by Indorama Eleme Fertilizer and Chemicals Limited in Port Harcourt.

Laolu Akande, the Senior Special Assistant to the Acting President on Media and Publicity, made the announcement in a statement issued in Abuja on Wednesday.

According to the presidential aide, the plant with production capacity of 1.5 million metric tons of Urea fertilizer is considered the world’s largest single-train Urea plant.

Eleme Petrochemicals Company Ltd, now Indorama Eleme Fertilizer and Chemicals Limited, was privatised in 2006 after the sale of the federal government’s 75 per cent shares to a core investor through competitive bidding process.

The statement said that the plant, with production capacity of 4,000 metric tons of nitrogenous fertilizer per day, was built with 1.5 billion dollars. It is supported by a port terminal at the nearby Onne Port Complex, and a Gas Pipeline of 83.5KM for gas supply

It said that the construction of the plant would lead to green revolution in the agriculture sector in Nigeria other parts of Africa and beyond, in line with the economic diversification policy of the Buhari administration.

The statement said that besides making fertilizer available to farmers nationwide at affordable cost, the plant will boost crop yield for farmers and help in minimizing food grain deficit in Nigeria.

(NAN)


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  • Watch man

    I hope Osinbajo will not go there by a chopper. He needs to go by road for a “smooth” ride.

  • NwaIgbo

    Hope this will not be another white elephant which will act as a conduit to siphon our scare resources, grease the palms of those in corridors of power only to leave Nigerians with empty plates and empty palms. We have seen similar pictures before.
    Where is Ajaokwota and LNG today? Where is Shiroro Hydroelectric DAM(I visited this massive project during my youth corps-1978). Say how much electricity and how much steel have we produced from these two white elephants?
    Who cares for Nigeria and her long suffering people?

    • Mike

      LNG is not in the same boat as Ajaokuta or Shiroro. They sell a few billion cubic feet of gas eery year and pay upwards of two billion dollars to the federation account annually. Same with Indorama, they have been involved with the plant for at least the past ten years and have invested more than two billion dollars into the economy, creating jobs alongside. LNG, Indorama and facilities like Onne OGFZA usually require skilled personnel, hence the general misfit with most mis-educated(ie not same field) job seekers. Hopefully that changes soon.
      What is important to note is that the dead-at least non optimally performing-projects like shiroro, ajaokuta etc are not privately run. Shell personnel( Nigerian and otherwise) run the most part of the LNG while Indorama is run by The Indonesian-Indian family that heads the conglomerate in Jakarta.

      • NwaIgbo

        Thanks for the info and insight.