Abuja — President of Nigeria Muhammadu Buhari said, Thursday in Abuja, that a new basic chemicals platform worth $1.3bn will be ready for commissioning in the coming months, as part of a partnership between Morocco and Nigeria.
The said platform, under construction as part of this partnership, will produce ammonia and fertilizers in for this west African country, said Buhari in a meeting with the Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN).
He recalled that, to improve the balance of trade between Nigeria and Morocco, the two countries have signed an agreement to develop a $1.3 billion Basic Chemicals Platform in Nigeria that will produce Ammonia, Phosphoric Acid, Sulphuric Acid and various Nitrogen, Phosphorus and Potassium (NPK) and Diammonium Phosphate (DAP) fertilizers using Nigeria's gas reserves.
"HM King Mohammed VI of Morocco and I have agreed to extend the current Phosphate supply agreement between the Kingdom of Morocco and Nigeria. We both believe that to consolidate and expand on the successes recorded thus far, we must secure raw material supplies to our blenders," he said.
The Nigerian President added that the new plant when completed would complement the existing Dangote and Indorama Chemicals facilities which produce urea, ammonia and other industrial raw materials.
"When we combine these projects with the existing 44 blending plants, Nigeria will indeed become a regional and global fertilizer power house," he said.
On this occasion, the Nigerian head of state thanked, on behalf of Nigerians, "my brother and friend, HM King Mohammed VI for being with us during this difficult but exciting journey."
"This mutually beneficial partnership between our two countries is a true example of how intra-Africa trade and partnership should work," he concluded.