Nigeria's Federal Government has approved the construction of a multi-billion naira petrochemical plant in Anambra State, south-eastern Nigeria. The integrated natural gas utilisation project is to be executed by Emerald Exploration and Production Company and Garden Energy Resources in collaboration with some foreign investors. Upon completion, the project will produce on a daily basis 2200 tons of mix natural gas liquid, 550 tons ethylene, 2,260 tons of ammonia and urea fertiliser, 1, 370 tons of acetic acid and 150 tons of formaldehyde.
Reforms in the oil and gas industry will reposition the sector to fully realise its potential as a crucial catalysts to the nation's economic growth. Among the oil producing nations, Nigeria has seven largest gas resources in the world and over one third of Africa's gas resources with majority of the non-associated gas of Nigeria based in Anambra State.