(3 Minutes Read)
Nigeria has inked a USD 1.2 billion deal with a Chinese firm to revitalize a gas processing facility. This can propel the African country to a leading position in the aluminium production industry analysts say corroborated by government sources.
The deal is between the Chinese state-owned CNCEC and the BFI Group, a major investor in the Aluminum Smelter Company of Nigeria. It is expected to revive the 135 million standard cubic feet gas processing facility plant at the smelter. m X.
Minister of State for Gas Ekperikpe Ekpo expressed optimism about the “significant investment,” as it will position the smelter back on the path to becoming a leading aluminium producer for both domestic and international markets.
Nigeria and China’s economic relationship deepened in 2016. Former President Muhammadu Buhari visited Chinese President Xi Jinping and signed several agreements. Since then, Chinese companies have been contracted to build railways and provide infrastructure in Africa’s most populous country.
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Despite being a major oil producer in Africa, Nigeria has some of the world’s highest poverty and hunger levels. Many Nigerians have taken to the streets in recent months to protest against the economic hardship caused by the reforms. In August, at least 20 protesters were shot dead.
