BUSINESS
Ogidigben Delta Gas Project Is Back As Nigeria, China Finally Sign $20b Deal
Alpha Grip Management Company (AGMC) and China National Chemical Engineering International Corporation Ltd. (CNCEC) have signed a landmark agreement to jointly develop the $20 billion Ogidigben Gas Revolution Industrial Park in Delta State in a bid to boost Nigeria’s industrial ambitions.
The signing ceremony, held at CNCEC headquarters in China, was witnessed by Joseph Tegbe, Director General of the Nigeria-China Strategic Partnership (NCSP), underscoring the strong bilateral ties between the two nations.
This partnership aligns perfectly with the outcomes of the 2024 Forum on China-Africa Cooperation (FOCAC), where leaders, including President Bola Ahmed Tinubu, emphasized the importance of fostering mutually beneficial economic partnerships. The Ogidigben project exemplifies this commitment, prioritising industrialisation, infrastructure development, and energy security across Africa.
CNCEC President Li Zhenyu expressed enthusiasm for the collaboration, stating: “Nigeria has always been a key market for CNCEC, and we are fully committed to supporting its economic growth and industrialisation.” He highlighted CNCEC’s successful track record in Nigeria, citing the Dangote Petrochemical Refinery Complex as a testament to their capabilities.
Representing the Nigerian government, Tegbe reaffirmed the administration’s commitment to strengthening bilateral ties with China. He conveyed President Tinubu’s strong support for the project, emphasising its crucial role in driving industrialisation and unlocking the vast potential of Nigeria’s gas resources. “This partnership demonstrates Nigeria’s proactive approach to collaborating with global leaders to achieve our developmental goals,” Tegbe stated. He further emphasised the project’s alignment with the President’s Renewed Hope Agenda, which prioritises job creation and economic diversification.
AGMC President Sheikh Mohamed Bayorh expressed gratitude to both CNCEC and the Nigerian government. “This partnership reflects the positive impact of President Tinubu’s reforms, which have significantly improved Nigeria’s investment climate,” Bayorh remarked. “The Ogidigben Gas Industrial Park has the potential to become a transformative force for Africa’s energy and industrial sectors.”
Bayorh acknowledged the instrumental role of key stakeholders, including Minister of State for Petroleum Ekperikpe Ekpo, and the leadership of the Nigeria National Petroleum Company Limited (NNPCL), particularly GCEO Mallam Mele Kolo Kyari and Executive Vice President of Gas, Power, and New Energy, Mr Olalekan Ogunleye. He extended sincere appreciation to Tegbe and his delegation for their presence at the signing ceremony, highlighting the significance of the Nigeria-China strategic partnership.
The Ogidigben Gas Revolution Industrial Park, encompassing power plants, fertiliser and petrochemical facilities, and aluminium smelters, is poised to create thousands of jobs and significantly impact Nigeria’s economic landscape. Bayorh described it as “Africa’s future gas city,” emphasising its transformative potential.
AGMC’s consortium of global investors, boasting over $100 billion in combined assets, will collaborate closely with CNCEC to ensure the timely and efficient implementation of the project. Both parties expressed confidence in the success of this partnership, recognising its potential to accelerate Nigeria’s industrialisation in the gas sector.
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