Chinese Company Supports Nigeria’s Mega $20 Billion Ogidigben Gas Project

Chinese Company Supports Nigeria's Mega $20 Billion Ogidigben Gas Project
China National Chemical Engineering International Corporation Commits to Nigeria’s $20 Billion Ogidigben Gas Project

China National Chemical Engineering International Corporation Ltd (CNCEC) has pledged its support for Nigeria’s mega Ogidigben Gas Project in Delta State, a move that underscores the strengthening economic relations between the two nations.

During a recent meeting in Beijing with the Nigeria-China Strategic Partnership (NCSP) delegation, led by Director-General Joseph Tegbe, CNCEC President Li Zhenyi announced the company’s willingness to contribute to the project through innovative funding solutions and strategic collaborations with Nigerian partners.

“Our organization is dedicated to aiding Nigeria’s industrialization efforts and economic progress,” Zhenyi asserted, emphasizing CNCEC’s alignment with Nigerian President Bola Tinubu’s vision for national development.

The NCSP delegation’s visit is part of the Forum on China-Africa Cooperation (FOCAC) initiative, which aims to improve investments, infrastructure development, and strategic alliances throughout Africa. Their engagements have concentrated on exploring alternative funding options and accelerating crucial developmental projects.

The delegation held discussions with leading Chinese financial institutions, including the China Exim Bank and China Development Bank, to explore opportunities for advancing Nigeria’s priority infrastructure needs. Key moments of the tour included a visit to the China Communications Construction Company (CCCC), where the delegation observed a facility that produces 2.5 million eggs daily, and vital discussions with TBEA, a prominent player in power transmission. These conversations highlighted potential solutions for Nigeria’s ongoing power supply issues through mini and micro-grid energy systems.

Additionally, the team consulted with Professor Justin Yifu, a distinguished economist and former World Bank director, regarding policy reforms and strategies that could enhance Chinese investments in Nigeria. Professor Yifu expressed his commitment to supporting NCSP’s mission in developing a strong framework for economic collaboration.

Reaffirming the bilateral relationship, the delegation also engaged with officials at the Nigerian consulate in Shanghai and toured the Yangshan Deep-Water Port—recognized as the world’s largest port facility, constructed by the China Harbor Engineering Company, which similarly played an essential role in developing Nigeria’s Lekki Deep Sea Port.

Through facilitating high-level discussions with key Chinese stakeholders, the NCSP delegation is laying the foundation for sustainable growth in critical sectors vital to Nigeria’s development. As the mission wraps up, the team is set to meet with economic leaders in Shenzhen and Guangzhou to further advance the implementation of FOCAC projects.

The Ogidigben Gas Project is poised to be one of Nigeria’s largest energy investments, anticipated to enhance the country’s status in global energy markets while generating employment opportunities and driving economic diversification.


Copyright 2024 REPORT AFRIQUE (RA). Permission to use portions of this article is granted provided appropriate credits are given to www.reportafrique.com and other relevant sources.This Article is Fact-Checked. See Policy.
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