Nigeria has signed a pact with OCP Africa for the second phase of the Nigerian Presidential Fertilizer Initiative in Morocco.
OCP Group is a Moroccan state-owned phosphate rock miner, phosphoric acid manufacturer and phosphate fertilizer producer.
The pact was signed by the Nigerian delegation led by the Minister of State for Petroleum, Timipre Sylva and officials of Nigeria Sovereign Investment Authority (NSIA).
By the agreement, the group is expected to utilize Nigerian gas and Moroccan phosphate to produce 750,000 tons of ammonia and one million tons of phosphate fertilizers annually by 2025.
To achieve the 750,000 tons target, a number of agreements were signed between OCP Africa, the Fertilizer Producers and Suppliers Association of Nigeria, and the NSIA in order to commit to the second phase of the Nigerian Presidential Fertilizer Initiative.
A Shareholders’ Agreement was also signed between OCP Africa and the NSIA for the creation of the Joint Venture Company. This agreement would oversee the development of a versatile industrial platform that will produce ammonia and fertilizers in Nigeria.
