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NSIA - OCP Multipurpose Industrial Platform Project

Project Name:

  • NSIA/OCP Multi-Purpose Industrial Platform Project

Project Sector:

  • Gas Industrialization

Project Sponsors:

  • NSIA
  • OCP Africa

Commencement Date / Closure Date / Completion Date

  • Q2 2025

Project Location (Region or State):

  • Ikot Abasi (Akwa Ibom State)

Project Description:

  • The Sponsors seek to develop an integrated Ammonia and fertilizer production plant that will benefit both the Nigeria and Kingdom of Morocco by commercializing Nigeria’s vast natural gas resources and satisfying Morocco’s demand for cost-competitive Ammonia.

 

  • The Project will be developed to produce 1.5MTPA of Ammonia in two phases. The Ammonia will be routed to the production of Di-Ammonium Phosphate and NPK fertilizers to feed domestic demand, and the excess of the Ammonia produced will be allocated for export to Morocco. The Project will require about 150 million standard cubic feet (“MMscf”) of gas for both phases.

 

  • The Project will be sited in Ikot Abasi, in Akwa Ibom State (AIS) on a 250 Hectare (“Ha”) parcel of land, with a projected operations commencement date of Q2 2025.

Benefits / Impact (Social, Economic & Others):

Focus Area

Impact

Import Substitution
  • Nigeria currently imports two (Potash & DAP) of four main ingredients for Fertilizer production, with DAP importation mostly from Morocco.
  • Producing Ammonia and DAP locally will save scarce foreign exchange resources and build local chemicals production capacity.

Fertilizer Sufficiency

  • Nigeria’s per capita consumption of fertilizer is one of the lowest in the world.
  • Fertilizer inadequacy, high costs and lack of access inhibit the use of fertilizer, which leads to low yield and low export potential of the produce.

Job Creation
  • The plant would create about 500 direct jobs and 20,000 indirect jobs.

Trade Realignment and Economic Diversification
  • Nigeria currently imports a significant proportion of its Fertilizer inputs from Morocco.
  • Exporting ammonia to Morocco will assist Nigeria adjust its balance of trade.

Gas Sector Development
  • A project-financed, greenfield, gas-based industrial project of this size, being led by OCP, will be a major milestone for Nigeria. Project has strong government support.

 

Project Cost / Size:

  • $1.5 Billion

Funding structure:

  • 70% Debt
  • 30% Equity

NSIA’s interest:

  • Equity ownership the project SPV (Multi-Purpose Industrial Platforms Limited).
  • Co-development of the project with OCP Africa

Partners:

  • OCP Africa