Nigeria, OCP Africa sign pact in Morocco for fertilizer production
Mordi chukwunonso Esther
Nigeria and OCP Africa have signed a pact in Morocco to aid the second phase of the Nigerian Presidential Fertilizer Initiative.
The pact was signed by the Nigerian delegation chaired by H.E the Minister of State for Petroleum Resources, Chief Timipre Sylva, and officials of Nigeria Sovereign Investment Authority (NSIA).
in a statement, the NSIA disclosed that “The goal of the project is to develop a multipurpose industrial platform in Nigeria, which will utilize Nigerian gas and Moroccan phosphate to produce 750,000 tons of ammonia and 1 million tons of phosphate fertilizers annually by 2025”.
OCP, Headquartered in Morocco, plays an important role in feeding a growing global population, by providing essential elements for soil fertility and plant growth. With a century of experience and revenues reaching US$5.62 billion in 2019, OCP is a leader in plant nutrition and the world’s first producer of phosphate-based fertilizers.
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kolo Kyari, was also among the delegation.
The Nigerian National Petroleum Corporation (NNPC), which gave assurances at the MoU signing, will also take equity in the venture that is expected to use Nigerian gas and Morrocan phosphate to produce 750,000 tons of ammonia and 1 million tons of phosphate fertilizers annually by 2025.