The Nigerian National Petroleum Corporation (NNPC) has firmed up arrangements with India-based Nagarjuna Group to boost the nation’s agricultural sector through the establishment of a fertilizer plant in Nigeria.
Group Managing Director of the State Oil Corporation, Dr. Maikanti Baru, charged members of the Joint Management Committee (JMC) of the Nagarjuna Fertilizer Project to work hard to achieve early Final Investment Decision (FID) for eventual take-off of the project.
Speaking recently while inaugurating the JMC made up of members drawn from Nagarjuna Fertilizer and Chemicals Nigeria Limited, a subsidiary of the India-based Nagarjuna Group, and NNPC, Dr Baru noted that the President Muhammadu Buhari administration was keenly interested in diversifying the economy by growing the agricultural sector and that the early take-off of the Nagarjuna Fertilizer Project would be a boost to that aspiration.
He said the project was in tandem with the objectives of the Federal Government’s 7-Big Wins and the corporation’s 12-Business Focus Areas to aggressively commercialise the nation’s enormous gas resources through gas-based industrialization and congratulated the Management of Nagarjuna for its tenacity and acquisition of a new project site in the Ikot Abasi Oil and Gas Free Trade Zone.