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By Prince Okafor & Obas Esiedesa As a major boost to Nigeria’s economy, a fresh indication has emerged that China Exim Bank, African Development Bank (AfDB), international commercial banks amongst other international donors are expected to fund 70 percent of the nation’s Methanol Plant project total cost. The project which Final Investment Decision (FID) was signed over the weekend by the Nigerian National Petroleum Corporation, NNPC, Nigerian Content Development and Monitoring Board (NCDMB), along with DSV Engineering (an indigenous Nigeria company) will be situated Bayelsa State. Other donors include, regional banks and African institutions The facility would be the largest methanol plant in Africa and the first in Nigeria and the construction phase is expected to create 30,000 direct and indirect jobs and additional 5000 permanent jobs during the operations phase.

Bayelsa stateTimipre sylvaOkafor obas esiedesaMuhammed buhariSimbi kesiye waboteMele kolo kyariBen okoyePetrochemicals company ltdNigerian content developmentPetroleum resourcesShell petroleum development companyBrass gas companyNigerian national petroleum corporationChina exim bankChinese bankAfrican development bank af