The Nigerian National Petroleum Company Limited (NNPCL) said it targets an annual contribution of $3 billion to the nation’s Gross Domestic Product (GDP) with its partnership with Indorama Eleme Petrochemicals Ltd.
In his remarks, the MD/CEO, Africa Indorama Energy, Manish Mundra, described the partnership as a strategic collaboration to unlock Nigeria’s upstream sector,” but more importantly, to partner downstream to share the value chain.”
Other benefits, he said, include the creation of about 55,000 direct and indirect employment opportunities, the development of a condensate refinery to boost petroleum product supply and reduce product importation, an annual GDP contribution of over $3.8 billion, and the attraction of over $7 billion of foreign direct investment into the country.
In a statement issued by the NNPC’s Group Chief Executive Officer (GCEO), Mele Kyari, and Chief Corporate Communications Officer, Garba Deen Muhammad, the partnership seeks to explore and develop suitable opportunities within the remits of both parties’ interests across the hydrocarbon value chain in Nigeria.
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