Nigeria’s $20 billion Ogidigben Gas Project Receives Boost from China
Nigeria’s ambitious $20 billion Ogidigben Gas Project in Delta State is set to receive significant support from China National Chemical Engineering International Corporation Ltd. (CNCEC), marking a pivotal moment in the economic relations between the two countries.
The President of CNCEC, Li Zhenyi, has expressed the company’s commitment to the project through revamped funding strategies and strategic partnerships with key Nigerian stakeholders.
During a high-level meeting in Beijing with the Nigeria-China Strategic Partnership (NCSP) delegation led by Director-General Joseph Tegbe, Zhenyi reiterated CNCEC’s dedication to aiding Nigeria’s industrialisation and economic growth. He also reaffirmed the company’s support for President Bola Tinubu’s national development agenda.
The NCSP delegation’s visit aligns with the Forum on China-Africa Cooperation (FOCAC) framework, which aims to enhance infrastructure development, investments, and strategic collaborations across Africa.
One of the main objectives of the delegation is to explore innovative funding sources and expedite crucial development projects. Meetings with prominent Chinese financial institutions like the China Development Bank and China Exim Bank focused on ways to support Nigeria’s key infrastructure priorities.
During their visit, the delegation toured a facility at the China Communications Construction Company (CCCC) that produces 2.5 million eggs daily. They also visited TBEA, a leading provider of power transmission systems, to discuss solutions for Nigeria’s persistent power challenges using small and micro-grid energy systems.
Renowned economist and former World Bank director, Prof. Justin Yifu, offered insights to the team on policy reforms and strategies to attract Chinese investments to Nigeria. Prof. Yifu pledged his support to NCSP’s efforts in establishing a solid foundation for economic cooperation.
The Ogidigben Gas Project, a major energy undertaking in Nigeria, is expected to enhance the country’s position as a key player in global energy markets while driving economic diversification and job creation.
