A United States based firm, Seppro Energy, in partnership with the southern Nigeria Akwa Ibom State Government, has concluded arrangements to establish a fertiliser plant at a cost of US$100 million.
The private BusinessDay newspaper on Saturday reported that the partnership would result in reducing the amount of gas flared in the state by turning unused gas into urea, which is used for the manufacture of fertiliser.
The Chief Executive Officer of Seppro Energy, Mr. Rowaye Jubril, who announced this in Uyo, the state capital, after visiting the Governor, Godswill Akpabio, said the first phase of the plant would produce 200 metric tons of fertiliser per day.
He said more than 100 youths would be offered employment when the project is completed, while over 200 unskilled workers would be also engaged by the company.
The company would collaborate with Universal Energy, an indigenous oil exploration firm owned by the state government, in the establishment of the plant.
“The two companies are committed to establishing the plant to reap the economic benefits of converting stranded gas resources from the Stubb Creek to useful products like urea, condensate and liquefied petroleum gas,” the spokesman for Universal Energy, Aniefiok Uwaudofia, was quoted as saying by the newspaper.
Governor Akpabio commended the US firm for partnering with the state to set up the plant, stressing that when completed it would go a long way in reducing poverty, create wealth and improve income to farmers.
The state is one of the oil producing areas in the country with rich hydrocarbon resources deposits.