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HomeInfrastructureInvestingNigeria, Morocco sign 5 MoUs to foster cooperation on Hydrocarbons, Agriculture

Nigeria, Morocco sign 5 MoUs to foster cooperation on Hydrocarbons, Agriculture

By Nathan Nwakamma
Yenagoa, March 2, 2021 The Federal Government and the Kingdom of Morocco on Tuesday signed five Memoranda of Understandings (MoUs) that would foster Nigerian-Morocco bilateral collaboration.

Mr Naboth Onyesoh, Manager, Corporate Communications, Nigerian Content Development and Monitoring Board (NCDMB) said this in a statement on Tuesday in Yenegoa

The agreements are expected to promote the development of hydrocarbons, agriculture, and commerce in both countries.

According to him, Chief Timipre Sylva, Minister of State for Petroleum Resources, led the Nigerian delegation to the agreement signing ceremony at Marrakech, Morocco..

The Chief Executive Officer of OCP Africa Mr Anouar Jamali signed for the Kingdom of Morocco.

Under the agreement between OCP, NSIA and the Nigerian National Petroleum Corporation (NNPC), Nigeria will import phosphate from the Kingdom of Morocco and use it to produce blended fertiliser for the local market and export.

Nigeria will also produce Ammonia and export to Morocco.

As part of the project, the Nigerian Government plans to establish an Ammonia plant at Akwa Ibom.

According to him, Mr Simbi Wabote, the Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), and the Group Managing Director of NNPC, Mallam Mele Kyari, were also part of the delegation.

He said that the two officials confirmed that their organisations would take equity in the Ammonia plant when the Final Investment Decision (FID) would be taken.

Other members of the delegation included Gov. Udom Emmanuel of Akwa Ibom; Governor of Jigawa, Mallam Muhammadu Abubakar and Managing Director of Nigeria Sovereign Investment Authority, Mr Uche Orji.

He quoted the minister as saying that the project would broaden economic opportunities for the two nations and improve the well-being of the people.

The minister added that the project would also positively impact agriculture, stimulate the growth of gas-based industries and lead to massive job creation.

Sylva revealed that President Muhammadu Buhari had mandated the Ministry of Petroleum Resources and it agencies and other government agencies to give maximum support for the project.

“He mandated me to ensure that at least the first phase of this project is commissioned before the expiration of his second term in office in 2023,” he said.

Naija247news Nigeriahttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.
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