Connect with us

General

NCDMB, Others Sign Deals for Gas, Methanol Plants

Published

on

Methanol Plant

By Adedapo Adesanya

The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC), Brass Fertilizer and Petrochemical Company Limited (BFPCL) and DSV Engineering have signed two key agreements for the construction of a 10,000 tonnes per day methanol plant and another 500 million standard cubic feet per day gas processing plant in Odeama, Brass, Bayelsa State.

The signing was done on Tuesday by the Executive Secretary of NCDMB, Mr Simbi Kesiye Wabote, who signed for the board, while the Chief Operating Officer, Gas & Power, NNPC, Mr Usman Yusuf and the Managing Director of BFPCL, Mr Ben Okoye signed for their companies respectively at the ceremony held at the NCDMB’s liaison office in Abuja.

The first deal was the Accession Agreement between BFPCL, DSV Engineering, NNPC and the NCDMB Capacity Development Intervention Company Limited by Guarantee. It confirms that NCDMB has subscribed to the terms and conditions contained in the company’s Share Subscription Agreement.

The second agreement was the Share Subscription Agreement between BFPCL, DSV Engineering and the NCDMB Capacity Development Intervention Company Limited by Guarantee. This agreement confirmed the allotment of 18 per cent of the authorised share capital of the Brass Fertilizer and Petrochemical Company Limited to NCDMB.

In his remarks, the Executive Secretary of NCDMB highlighted the need for indigenous institutions and companies to initiate projects that would create in-country value and employment opportunities for young Nigerians. He insisted that the Nigerian oil and gas industry cannot continue to wait for only international operating oil and gas companies to introduce projects.

He maintained that creating job opportunities for young Nigerians was the best strategy to curtail restiveness and insecurity in the polity.

He hinted that the methanol project provides opportunities to add value in-country and further diversify the utilization of the nation’s gas resources.

He said the 10,000 tonnes/day methanol plant will upon completion bring Nigeria onto the world map as one of the top-10 producers of methanol.

“The opportunities provided by this project in jobs creation, gas utilization, and local availability of methanol for primary and secondary users, are massive and we are excited to serve as a catalyst for the realization of the project,” he added.

Mr Wabote also said that the project would create 15,000 jobs during the construction stage and additional 5,000 jobs during the operations phase.

He indicated that Methanol can be used for different purpose and can also serve as a key chemical agent in pharmaceutical and agro-chemical industries.

The Executive Secretary commended the NNPC for its role in getting the project to the current stage, expressing hope that the partnership would help to drive the methanol plant to completion.

The Chief Operating Officer, Gas & Power, NNPC, Mr Yusuf expressed delight that the project was in sync with President Muhammadu Buhari’s recent declaration of a Decade of Gas and would help to correct the current anomaly whereby 100 per cent of the nation’s methanol needs are currently imported.

He maintained that that gas was becoming increasingly important to Nigeria’s sustainability and would also play a key role in the energy transition.

Mr Yusuf added that gas is key to food processing and can lead the nation to food sufficiency, industrialization, increase in Gross Domestic Product and power sufficiency.

He added that the two Methanol projects would help Nigeria save foreign exchange and significantly enhancing local production.

The NNPC chieftain congratulated the NCDMB for supporting the methanol projects, which would create a gas hub, petrochemical industry fertilizer plants and condensate refinery.

He also expressed delight that the funding for the critical project was being sourced in-country.

The Managing Director of BFPCL, Mr Ben Okoye stated that methanol can be used to produce 67 items that are used in households every day. He stated that the company had acquired 600 hectares of land and aspires to attract other entities to the Brass Free Zone, adding that the project would become the biggest methanol plant in sub-Saharan Africa.

Business Post had reported that NCDMB, NNPC and DSV Engineering had in January signed the Final Investment Decision (FID) for the construction of 10,000 tonnes/day methanol production plant by the Brass Fertiliser and Petrochemical Company Ltd (BFPCL), committing equity investment of $670 million.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General

Pastor Ogbueli’s Abuja Night of Glory Holds Today

Published

on

Abuja Night of Glory

By Blaise Udunze

Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.

The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.

The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.

Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.

Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.

The event is intended for all individuals trusting God for divine intervention in any area of life.

Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.

Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.

Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.

Continue Reading

General

Rivers Speaker, 15 Other Lawmakers Leave PDP for APC

Published

on

rivers speaker Martin Amaewhule defect

By Modupe Gbadeyanka

The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).

At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.

This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.

The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.

This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.

A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.

Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.

It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.

Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.

Continue Reading

General

Nigeria Risks Brain Drain in Energy Sector—PENGASSAN

Published

on

energy sector

By Adedapo Adesanya

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.

The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.

Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.

“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.

According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.

“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.

He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.

Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.

He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.

“This industry recruits the best. Companies must provide the best conditions,” he said.

On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.

“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.

He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.

Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.

He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.

“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.

Continue Reading

Trending