Nigeria has entered into a $1.2 billion agreement with China’s CNCEC to revive a gas processing facility that could elevate Nigeria’s role in the global aluminium market. The deal, signed with BFI Group, a key investor in the Aluminium Smelter Company of Nigeria, aims to restore operations at the 135 million standard cubic feet gas processing plant.
Minister of State for Gas Ekperikpe Ekpo announced the initiative on Tuesday via X, expressing optimism that it will propel Nigeria’s aluminium sector onto the world stage, ““…back on the path to becoming a leading aluminium producer for both domestic and international markets.”
This deal strengthens Nigeria’s longstanding partnership with China, which has grown since 2016 when a series of bilateral agreements brought in Chinese investment for railways and infrastructure. President Bola Tinubu continues to initiate more recent reforms to attract foreign investments and aims to boost Nigeria’s economy, providing a much-needed lift.
