The Federal Government, through the Nigerian National Petroleum Company Limited, has signed a significant gas sales agreement to support the $3.3 billion Brass Fertilizer and Petrochemical Company Ltd.
This deal, inked with Shell, TotalEnergies, and Agip in Abuja, marks a key milestone in Nigeria’s efforts to monetize its vast gas reserves.
At the signing ceremony, Minister of State for Petroleum Resources, Ekperikpe Ekpo, emphasized the agreement’s potential to drive industrialization, generate foreign direct investment, and create thousands of jobs.
He stated that the project is expected to produce over $1.5 billion annually from exports and reduce fertilizer imports by 30%, saving Nigeria approximately $200 million in foreign exchange.
The Brass Fertilizer project will receive an estimated 270 million standard cubic feet of gas daily, significantly enhancing the economic landscape in the Niger Delta region.
The initiative aligns with the government’s commitment to achieving zero routine flaring by 2030, further advancing Nigeria’s National Gas Policy.
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