- the facility positions Nigeria as a credible exporter of chemicals derived from gas
- the project’s take-off signals a shift in how Nigeria monetises its natural gas resources
- Tinubu urged stakeholders to ensure that host communities benefit directly through jobs
President Bola Ahmed Tinubu has lauded the commencement of operations at Nigeria’s first methanol processing facility, located in Ondo State, underscoring the administration’s focus on industrialisation and gas-sector value-addition.
Eko Hot Blog reports that the plant, sited in the Ondo region, is a major milestone in the drive to exploit domestic gas reserves and curb import dependence on methanol-based raw materials.
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The President said the facility aligns with the “Renewed Hope Agenda” and represents a new chapter in Nigeria’s industrial journey.
During a visit to the facility, Tinubu emphasised that the project’s take-off signals a shift in how Nigeria monetises its natural gas resources, creating jobs, stimulating local manufacturing and strengthening national self-reliance.
He stated that beyond domestic use, the facility positions Nigeria as a credible exporter of chemicals derived from gas.
The plant is expected to generate thousands of jobs both during construction and full operation and contribute significantly to foreign-exchange savings by reducing the volume of methanol imports. Local industry observers note that methanol plays a critical role in fertiliser production, plastics manufacturing and energy.
Governor Lucky Aiyedatiwa of Ondo State also welcomed the project, pointing to his administration’s efforts to attract major industrial investments by providing a stable business environment.
He noted the synergy between the state and federal governments as essential to maximising the project’s impact.
Federal and state officials revealed that the methanol plant will be complemented by supporting infrastructure, including gas feed-lines, utility connections, and export logistics to ensure its competitiveness and integration into global value chains.
Tinubu urged stakeholders to ensure that host communities benefit directly through jobs and equity participation.
With the launch of this facility, Nigeria takes a bold step toward transforming its gas sector from raw-resource extraction to manufacturing and exports a pivot that experts say is critical for long-term economic diversification.
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