Business
Dangote, NNPC, Shell, others sign multi million dollar gas deal
The Nigerian National Petroleum Company (NNPC) Limited and it’s patners have reached an agreement with Dangote Fertilizer Company for the supply of 70 million standard cubic feet (scuf) of gas in a multi-million dollar deal
NNPC partners on the deal include Shell Petroleum Development Company (SPDC), ENI, Gas Aggregation Company of Nigeria (GACN), Nigeria Agip Oil Company and TotalEnergies.
Speaking at the signing ceremony event, Kyari said that the contract was perfected within a short period based on its importance to the production of fertiliser and agro-economic growth of Nigeria.
He also noted that the deal would increase gas supply in the domestic market.
READ ALSO: BUA Cement to raise price by 11.4%, blames Dangote, Lafarge for rising cost
He added, “But more importantly, it is a platform that will increase local production of fertiliser in our country.
“As you may be aware, it is government’s drive to ensure that we become self sufficient in the production of fertiliser in the country, and specifically for this year’s zero import of fertilisation in the country”
“Currently, Dangote group provides about 65 per cent of all domestic production of fertiliser. And we are happy to sign the Gas Supply Agreement with them,” Kyari said.
On his part,Aliko Dangote, Chairman, Dangote Group Ltd. believes the additional gas would bring in more foreign exchange into the country.
He stated that Nigeria could earn $1.8 billion in terms of foreign exchange coming into the country.
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