China and Nigeria seal $3.3 billion methanol project deal

In Nigeria, Nairametrics reports the China Road and Bridge Corporation signed a $3.3 billion agreement with Nigeria’s Brass Fertilizer and Petrochemical Company Ltd. for the development of the Brass Industrial Park and Methanol Complex in Bayelsa State, Nigeria. This significant partnership, signed during the Forum on China-Africa Cooperation in China, is aimed at bolstering Nigeria’s industrial growth and energy security.

The project, a key part of President Bola Tinubu’s “Renewed Hope Agenda,” will inject substantial foreign investment into Nigeria’s energy sector, contributing to the country’s ambition to become a hub for oil, gas, and petrochemical industries. The Brass Industrial Park is set to include a gas processing plant, a methanol production facility, and product export terminals.

Located on Brass Island, the industrial complex is positioned to elevate Nigeria’s status as a major player in the downstream oil and gas market. With $3.5 billion in investments already committed, this project marks another milestone in Nigeria’s pursuit of energy diversification and sustainable growth.

The deal reflects ongoing cooperation between Nigeria and China, as both nations continue to strengthen economic ties through large-scale industrial projects.

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