General
Indorama Gets $1.25bn Loan to Ramp up Fertilizer Production in Nigeria

By Adedapo Adesanya
Indorama Eleme Fertilizer and Chemicals Limited Nigeria has received a $1.25 billion financing package to ramp up its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job creation in Nigeria.
The investment came from the International Finance Corporation (IFC ) alongside the African Development Bank (AfDB), Bangkok Bank, British International Investment, Citibank, Deutsche Investitions- und Entwicklungsgesellschaft (DEG), DZ Bank, and Emerging Africa Infrastructure Fund (EAIF).
Others include Rand Merchant Bank, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Export-Import Bank of India (India Exim Bank), Export-Import Bank of Korea (KEXIM), the Standard Bank Group, Standard Chartered Bank, and the United States International Development Finance Corporation (DFC).
The financing package will fund Indorama’s plans to develop a third nitrogenous urea fertilizer production line and a new shipping terminal at its operations in Port Harcourt. The new production line is expected to have an annual capacity of 1.4 million metric tons of urea, one of the most widely used fertilizers worldwide.
The $1.25 billion facility includes a $215.5 million loan from IFC’s account; a $94.5 million loan through the Managed Co-Lending Portfolio Program (MCPP); and $940 million financing mobilized from other development finance institutions and commercial banks. Joining IFC as joint mandated lead arranger and lender is Sumitomo Mitsui Banking Corporation (SMBC), Singapore Branch.
As part of the project, Indorama will implement a greenhouse gas (GHG) emissions strategy to reduce emissions at its petrochemical complex by 32 per cent by 2026, including by significantly reducing gas flaring and other improvements. This strategy aligns with Nigeria’s pledge to eliminate routine gas flaring by 2030 under the World Bank-led Global Gas Flaring Reduction Partnership.
Indorama’s two operational urea fertilizer lines serve Nigeria’s domestic market, supporting the country’s agricultural sector, which accounts for a quarter of its GDP and employs about a third of its labour force. The new production line and terminal, which will help meet the growing global demand for fertilizer, are expected to create up to 8,000 direct and indirect jobs.
Speaking on this, Mr Amit Lohia, Group Vice Chairman, Indorama Corporation, said, “We are grateful to our financial partners for their unwavering support and confidence. IFC has been a key partner for Indorama in Nigeria for almost two decades.
“This financing demonstrates the strong collaboration and alignment of interests between the public and private sectors to drive sustainable development and create value for all stakeholders.
“Indorama remains dedicated to playing a vital role in supporting global food security by ensuring a consistent supply of high-quality fertilizers in Africa, and beyond while contributing to Nigeria’s broader economic objectives.”
Manish Mundra, Group Director for Africa, Indorama Corporation, said, “The establishment of this fertilizer plant underscores Indorama’s unwavering commitment to Nigeria’s industrial growth, economic diversification, and leveraging its strategic geographic location. This landmark financing represents a pivotal moment in Nigeria’s journey towards becoming a major player in the global fertilizer market.
“With the addition of this third line, Nigeria is prepared to significantly ramp up its export capacity, thereby enhancing its position as a key exporter of fertilizers to Africa and the world. Furthermore, the establishment of this fertilizer plant will not only address critical issues such as broader food security but will also stimulate agricultural growth and create employment opportunities in Nigeria.”
Mr Sérgio Pimenta, IFC Vice President for Africa, said, “Reliable access to high-quality fertilizer is essential for food production and food security around the world. IFC’s investment in Indorama, along with African, Asian, European, and American partners, signals our joint commitment to support the agriculture sector, Nigeria’s economy, and the expansion of Indorama, an important supplier in the global food chain.”
Ms Monika Beck, Member of DEG’s Management Board, said “Indorama is a long-term client, as DEG has been the first DFI to finance the company. This recent investment, again, underlines our trustworthy cooperation. DEG’s special contribution to this transaction lies in trainings for smallholder farmers as part of the DeveloPPP programme. IFC and DEG have been financing partners for 30 years.”
Mr Benson Adenuga, Head of Office and Coverage Director for Nigeria at British International Investment, said, “We are delighted to partner with IFC, other impact investors, and the development finance community on this project, which will boost fertilizer production in Nigeria, support food security and create jobs. Our ongoing commitment to back Indorama’s expansion will also help to elevate Nigeria’s export potential and support the diversification of its economy.”
Mr Ousmane Fall, Acting Director, Industrial and Trade Development Department at the African Development Bank (AfDB), said “The AfDB is proud of its continued partnership with Indorama, the IFC and other lenders on this critical project as it is aligned with our strategic priorities to Feed Africa and Industrialize Africa while generating significant development outcomes in Nigeria.”
In addition, Mr Freddy Ong, Head of Client Coverage, Singapore, Corporate, Commercial and Institutional Banking at Standard Chartered Bank, said, “We are pleased to participate in this transaction, one of the many we have been a part of during our long-standing relationship with Indorama since 1997.
“We have been proud partners to Indorama across Standard Chartered’s footprint markets and especially at Indorama Eleme Fertilizer and Chemicals Limited, where we have remained engaged since its inception.
“With this latest financing, we look forward to the successful completion of Indorama Eleme Fertilizer and Chemicals’ facility and the expansion of its urea fertilizer capacity that will help address global food security and strengthen its position as a leading supplier of essential materials in the global food ecosystem.”
General
Edo Killings: Okpebholo Suspends Illegal Vigilantes, Head of Security Corps

By Adedapo Adesanya
Following the lynching of some travelers, the Governor of Edo State, Monday Okpebholo, has ordered the immediate suspension of all illegal vigilante groups operating under whatever guise in the state.
The governor also suspended the Edo State Security Corps Commander, Mr Friday Ibadin.
The victims of the lynching were said to be travelling from Port Harcourt to the northern part of Nigeria and were allegedly killed by a mob in Uromi, Edo State, on Thursday.
According to a statement signed by the Secretary to the Edo State government, Mr Umar Musa Ikhilor, the action of the governor follows information of the General Public that after a review of the preliminary report of the unfortunate incident at Uromi in Esan North East Local Government Area of Edo State on Thursday involving the gruesome killing of some travelers.
“It is to be reiterated that the local vigilante group involved in the gruesome killing of 27th March was operating illegally as it was never profiled or registered with Edo State Security Corps.
“Its actions do not reflect the core values, character and principles of the Okpebholo administration, or the objectives of the corps as enshrined in the Edo State Security Corps Governance Law.
“Investigations into the killings are on-going and fourteen (14) persons have been arrested so far, while there is an intense manhunt for others involved in the gruesome killing by a special team set up by the Inspector General of Police,” the statement said.
The governor reiterated its belief in the constitutionally guaranteed rights of citizens to move freely or engage in lawful business in any part of the country.
The statement added that the government is in touch with families of the victims, community leaders and the Government of Kano State where most of the deceased are reported to hail from.
“We urge all parties involved to remain calm as the State Government remains committed to ensuring that justice is done in a most efficient, transparent and proactive manner,” the statement concluded.
Recall that the President noted that jungle justice has no place in Nigeria, and all Nigerians have the freedom to move freely in any part of the country.
President Tinubu condoled with the families of the affected people and assured them “that criminals would not be allowed to shed the blood of innocent Nigerians in vain”.
General
SERAP Urges Withdrawal of Bill Seeking to Jail Nigerians Who Don’t Vote

By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has called for the withdrawal of a bill which contains repressive provisions to jail any Nigerian of voting age for six months and/or impose a fine of N100,000 on them if they fail to vote in national and state elections.
The organisation urged the Senate President, Mr Godswill Akpabio, and Speaker of the House of Representatives, Mr Tajudeen Abbas, to immediately withdraw the bill, which it tagged oppressive.
SERAP urged Mr Akpabio and Mr Abbas to instead “amend the Nigerian Constitution 1999 [as amended] and the Electoral Act 2022 to remove constitutional immunity for state governors and their deputies who commit electoral offences, including vote-buying, to facilitate the investigation and prosecution of perpetrators.”
The group also urged Mr Akpabio and Mr Abbas “to amend the Nigerian Constitution and the Electoral Act to explicitly prohibit the appointment of members of any political party as resident electoral commissioners (RECs) of the Independent National Electoral Commission (INEC).”
There is currently in the National Assembly a ‘Bill for an Act to Amend the Electoral Act 2022 to Make It Mandatory for All Nigerians of Majority Age to Vote in All National and State Elections and for Related Matters.’ The bill seeks to make voting compulsory and prescribes a six-month jail term or a fine of N100,000 or both for non-compliance.
In the letter dated 29 March 2025 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation said: “Jailing eligible Nigerians for deciding not to vote would be entirely inconsistent and incompatible with the letter and spirit of the Nigerian Constitution and the country’s international human rights obligations.”
SERAP said, “Rather than proposing bills that would severely punish Nigerians who may decide not to exercise their right to vote, the National Assembly ought to propose bills to remove constitutional immunity for governors and their deputies who commit electoral offences and undermine the integrity of the electoral process.”
According to the organisation, “The most effective way to solve the perennial voter apathy is to create a safe and conducive environment, combat the impunity of high-ranking politicians who commit electoral offences, and generally improve the electoral process to encourage the citizens to come out to vote, and not to send them to jail.”
The letter, read in part: “Should the National Assembly fails to drop the bill prescribing a six-month jail term for eligible Nigerians who decide not to vote in national and state elections, and should any such bill be assented to by President Bola Tinubu, SERAP would consider appropriate legal action to challenge the legality of any such law and ensure they are never implemented.”
“The idea of compulsory voting and jailing citizens for not voting is impracticable, unnecessary and unlawful. The right to vote is part of citizens’ right to participate in their own government and the choice of whether to exercise it is personal.”
“The right to vote includes the right not to vote. If the right to participation is a right of the citizen, she/he must be free to decide whether or not to exercise it.”
“Because the notion of a democracy exists by virtue of the consent of the citizens, voters must get to choose how they exercise consent, not be forced to the polls like ‘cattle to the slaughter.’”
“The National Assembly ought to propose bills to reduce the influence of money in politics, and encourage and not compel the exercise of the right to participation.”
General
Nigeria Could Save $267m from Local Polypropylene Production

By Adedapo Adesanya
The domestic production of polypropylene will help Nigeria to save around $267 million in import costs, according to estimates by the Manufacturers Association of Nigeria (MAN).
The group said investments from Dangote Group in the sector could significantly reduce the country’s reliance on imported raw materials for the textile industry.
The local production of polypropylene will not only boost industrial growth but also create jobs and enhance the competitiveness of Nigeria’s textile sector.
According to the Director-General of MAN, Mr Segun Kadir-Ajayi, this could help revive and ease the challenges facing a lot of industry in Nigeria, particularly the textile industry, which once employed over 25,000 workers in the northern region.
He attributed the industry’s decline to the lack of local polypropylene production and foreign exchange scarcity, forcing many companies to shut down.
Recently, Business Post reported that Dangote Industries has fully commenced polypropylene production, a move expected to transform Nigeria’s manufacturing sector.
It will help reduce Nigeria’s reliance on imports for this essential material used in packaging, textiles, and automotive components.
The Chairman of the group, Mr Aliko Dangote, projected that once fully operational, the refinery will meet local demand, eliminating the need for $267.7 million in annual imports.
By producing polypropylene locally, Dangote Industries is set to enhance industrial growth, create jobs, and strengthen Nigeria’s economy.
Polypropylene is a versatile thermoplastic used across multiple industries due to its durability, chemical resistance, and lightweight nature.
It plays a vital role in packaging, textiles, automotive, healthcare, construction, agriculture, consumer goods, and electronics. Its applications range from food containers and medical devices to car parts and irrigation pipes.
Local production of polypropylene is expected to boost industrial growth, create jobs, and enhance competitiveness.
Polypropylene’s versatile applications crucial for various industries including packaging, textiles, automotive, healthcare, construction and agriculture.
In packaging, polypropylene is essential for plastic containers and food packaging films. The textile industry relies on it for non-woven fabrics and carpets, while the automotive sector benefits from its lightweight properties in car bumpers and dashboards.
In healthcare, it is used for syringes and medical vials due to its sterility and durability. The construction and electronics industries utilize polypropylene for insulation materials, cables, and battery cases.
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