The Nigeria, leading African oil producer, is strengthening its ambitions in the energy sector to boost its industry and economic growth. The government recently signed an agreement $1.2 billion with the Chinese company China National Chemical Engineering Company (CNCEC) for the rehabilitation of a gas processing plant intended to l’Aluminum Smelter Company of Nigeria (ALSCON).
This partnership will secure a daily supply of 135 million cubic feet natural gas standards, which will be used to produce 540 megawatts of electricity necessary for the operation of ALSCON’s foundries. This project is part of a national strategy aimed at monetizing the gas potential of Nigeria, which holds the largest proven natural gas reserves in Africa and occupies third place in terms of production, behind Algeria and Egypt.
By focusing on the transformation of its gas resources, Nigeria intends to consolidate its industrial base while increasing local added value. The stable energy supply resulting from these initiatives aims to support heavy industries such as aluminum, essential to the diversification of the economy.
These energy efforts are part of a broader dynamic of economic recovery, with expected growth of 3.2% in 2024 and 3.4% in 2025according to the African Development Bank. Thanks to the support of international players such as CNCEC, Nigeria is positioning itself as an energy leader while building a robust industry capable of meeting the challenges of sustainable development. With these initiatives, the country reaffirms its strategic role on the continent while attracting quality investors to support its industrial and energy transition.
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