Nigeria’s President Muhammadu Buhari on Thursday, announced the signing of an agreement between his country and Morocco to develop a commodity chemicals platform.
At an estimated cost of US$ 1.3 billion, the platform will produce ammonia and various NPK and DAP fertilizers, using Nigeria’s gas reserves, the Nigerian head of state said in a tweet.
“We are on track to become a regional and global fertilizer powerhouse,” said the Nigerian president, adding that “this mutually beneficial partnership between our two countries is a real example of how African intra-trade and partnership should work.”
President Buhari also seized this opportunity to thank, “on behalf of Nigerians, my brother and friend, His Majesty the King of Morocco, for being with us on this difficult but exciting journey.”
When completed, the new plant will complement the existing facilities of Dangote & Indorama Chemicals, which produce urea, ammonia and other raw materials for the industry.
HA/fss/abj/APA