Nigeria's $1.2 Billion Gas Deal with China: A New Era in Aluminum Production

Nigeria signed a $1.2 billion deal with China's CNCEC to revive a gas facility crucial for the Aluminum Smelter Company. Expected to enhance Nigeria's aluminum sector, the partnership strengthens economic ties since 2016. Despite President Tinubu's reforms, economic hardships persist, prompting public protests.

Nigeria has embarked on a transformative $1.2 billion agreement with a renowned Chinese firm, CNCEC, to revitalize a pivotal gas processing facility. This ambitious move is set to position Nigeria as a front-runner in aluminum production both domestically and internationally.

The collaboration between CNCEC and the BFI Group marks a significant development in reviving the 135 million standard cubic feet gas processing plant. Announced by Ekperikpe Ekpo, Minister of State for Gas, the investment promises to restore Nigeria's aluminum smelting prowess.

This deal further solidifies the economic bond between Nigeria and China, initiated in 2016 by former President Muhammadu Buhari. Despite substantial oil production, Nigeria grapples with poverty, inflation, and a weakening naira, leading to protests against President Tinubu's economic policies.

(With inputs from agencies.)