Could African country control 10% of fertilizer market?
Nigeria could be poised to control 10 percent of the world’s fertilizer market by 2017 after many planned fertilizer plants are projected to come online, according to the Minister of Petroleum Resources, Diezani Alison-Madueke.
Alison-Madueke make the comment at the 19th Nigerian Economic Summit, titled “Building a World Class Petrochemical and Fertilizer Industry in Nigeria.”
Nigeria has abundant gas resources and is aiming to leverage that strength to fuel its economic growth. Tumini Green, acting group general manager, group public affairs division of the Nigerian National Petroleum Corporation, said in a statement, that the Gas Master Plan from the Petroleum Industry Bill (PIB) for accelerated implementation under the Gas Revolution Agenda has begun to yield dividends. As a result, plans are in place to establish a number of new fertilizer plants in the country.
Some of the proposed fertilizer plants proposed by Alison-Madueke include the Dangote Petrochemical and Fertilizer Plant to be built at Olokola, Indorama Fertilizer Plant at Eleme, Brass Fertilizer Company at Brass, Nagarjuna Fertilizer Plant at Ogidigben, and another plant by the International Fertilizer Association.
The country has proposed a two-prong strategy to develop its gas resources including a gas-to-power and gas-to-industries drive.
Kunle Allen, managing director of Gas Aggregator Company of Nigera, confirmed the development of new fertilizer plants and stated that apart from Notore, which is already into fertilizer production, six new companies have approached the Gas Aggregator Company to firm up gas supply arrangements for their fertilizer plants and that talks are at an advanced stage with the companies, it was reported.
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