ln a significant step toward advancing Nigeria’s industrialization ambitions, Alpha Grip Management Company (AGMC), a subsidiary of UAE-based Alpha Group, has partnered with China National Chemical Engineering International Corporation Ltd.… The post Federal Government of Nigeria witnesses deal inked for the investment, development, and financing of the $20B Ogidigben Gas Project appeared first on Radarr Africa.
ln a significant step toward advancing Nigeria’s industrialization ambitions, Alpha Grip Management Company (AGMC), a subsidiary of UAE-based Alpha Group, has partnered with China National Chemical Engineering International Corporation Ltd. (CNCEC) to develop, construct, and finance to completion the $20 billion Ogidigben Gas Revolution Industrial Park in Delta State. The formal signing ceremony took place on January 15 at CNCEC headquarters in China, witnessed by Hon. Joseph Tegbe, Director General of the Nigeria-China Strategic Partnership (NCSP), and representatives from both organizations.
The partnership comes on the heels of the 2024 Forum on China-Africa Cooperation (FOCAC) meeting, where heads of state, including President Bola Ahmed Tinubu, emphasized the importance of fostering economic ties between African nations and China. At the forum, agreements were made to prioritize projects that advance industrialization, infrastructure, and energy development across Africa. The Ogidigben Gas Industrial Park stands as a testament to these commitments, with Nigeria positioned as a key beneficiary.
The collaboration aims to advance one of Nigeria’s most ambitious industrial projects, designed to transform the nation’s gas sector through large-scale infrastructure development. Speaking at the event, CNCEC President Li Zhenyu highlighted Nigeria’s strategic importance in the company’s global expansion plans. “Nigeria has always been a priority market for CNCEC, and we are fully committed to contributing to its economic growth and industrialization,” he said. Zhenyu noted that CNCEC’s involvement in previous projects, such as the Dangote Petrochemical Refinery Complex, underscores its capacity to deliver on large-scale engineering projects.
Hon. Joseph Tegbe, representing Nigeria’s government, reaffirmed the administration’s commitment to strengthening bilateral ties with China. He conveyed President Bola Ahmed Tinubu’s strong support for the project, describing it as a key component of the administration’s agenda to promote industrialization and gas infrastructure development. “This partnership reflects Nigeria’s readiness to collaborate with global players to unlock the potential of its abundant natural resources. The Ogidigben project is a national priority, and we are confident it will drive significant economic growth,” Tegbe stated. He also emphasized that the collaboration aligns with the President’s Renewed Hope Agenda, which seeks to create jobs and expand Nigeria’s industrial base.
AGMC President Sheikh Mohamed Bayorh expressed gratitude to both CNCEC and the Nigerian government for their roles in facilitating the agreement. “This partnership is a testament to President Tinubu’s reforms, which have enhanced Nigeria’s appeal as an investment destination. The Ogidigben Gas Industrial Park will be a game-changer for Africa’s energy and industrial sectors,” Bayorh remarked.
He also acknowledged the support of key stakeholders, including the Minister of State for Petroleum, Rt. Hon. Ekperikpe Ekpo, whose strategic leadership has been instrumental in advancing Nigeria’s gas sector. along with the leadership of the Nigeria National Petroleum Company Limited (NNPCL) GCEO, Mallam Mele Kolo Kyari and the Executive Vice President of Gas, Power, and New Energy Mr. Olalekan Ogunleye for their continued support of the Ogidigben GRIP Project. He further expressed many thanks and appreciation to the Director General, Hon. Joseph Tegbe and his delegation for witnessing the formal signing ceremony between the CNCEC and AGMC on the investment and financing of the Ogidigben Gas Revolution Industrial Park project which underscores the significance of the Nigeria- China strategic bilateral partnership.
The Ogidigben Gas Revolution Industrial Park is set to include power plants, fertilizer and petrochemical facilities, and aluminum smelters, among other infrastructure. It is expected to generate thousands of jobs during both construction and operational phases. Bayorh described the project as “poised to become Africa’s largest gas city,” emphasizing its potential to transform Nigeria’s economic landscape.
As part of the agreement, AGMC’s consortium of global investors, with combined assets exceeding $100 billion, will work closely with CNCEC to expedite the project’s implementation. Both parties expressed optimism about the collaboration, citing its potential to accelerate Nigeria’s industrialization in the gas sector.
The partnership underscores the growing importance of Nigeria-China relations and highlights the critical role of international cooperation in achieving Nigeria’s developmental goals.
The post Federal Government of Nigeria witnesses deal inked for the investment, development, and financing of the $20B Ogidigben Gas Project appeared first on Radarr Africa.
