The Africa Finance Corporation (AFC) is spearheading a groundbreaking initiative to establish Africa’s largest gas-to-methanol plant in Akwa Ibom, Nigeria. The project, which aims to produce 1.8 million metric tonnes of methanol annually, is poised to significantly impact the local economy by creating 2,500 jobs during construction and over 18,000 more when fully operational.
The plant will convert Nigeria’s vast natural gas reserves into valuable methanol, aiding the country’s economic diversification efforts while reducing carbon emissions by capturing gas that would otherwise be flared. Blackrose, in collaboration with the International Finance Corporation (IFC), is at the helm of the project’s development.
The venture will be executed in two phases, each capable of producing 1.8 million tonnes of methanol per year. The second phase will also see the addition of ammonia production. By utilizing energy-efficient processes and incorporating carbon capture technology, the plant aims to minimize carbon emissions, contributing to Africa’s net-zero ambitions.
AFC President and CEO, Samaila Zubairu, highlighted the project’s potential to harness Nigeria’s gas resources for sustainable industrial growth, positioning it as a critical element in the continent’s climate resilience strategy.
