Osinbajo discharges IEPL from BPE monitoring, commissions $1.4b fertiliser plant

Acting President Yemi Osinbajo

Presidency inaugurates N1.2 billion SDG projects in Ekiti
Acting President Yemi Osinbajo yesterday discharged Indorama Eleme Petrochemicals Limited (IEPL) from the mandatory five-year monitoring programme of the Bureau of Public Enterprises (BPE).

He also commissioned a $1.4 billion largest single line urea plant in the world with 1.5 million metric tons per annum capacity built by the company for the domestic and foreign markets.

The acting president who was accompanied by the Rivers State Governor, Nyesom Wike, the minister of transportation, Chibuike Amaechi, Senator Magnus Abe and several other dignitaries, said the economic vision of the Federal Government is for Nigerians to grow what they eat, produce what they consume.

He explained that following the 2006 handover, the BPE carried out routine monitoring on the enterprise to ensure that the core investor adhered to and implemented the post-acquisition plan it had laid out for the company.

“Today is the culmination of that process of monitoring and oversight by the BPE. I am delighted that it is taking place on an inspiring and hopeful note, and that we are all here today celebrating a thriving and promising company. We should not take this state of affairs for granted.”
The Acting President lauded Indorama for the new fertiliser plant, which he observed was in line with President Buhari’s vision for a country that produces what it consumes and grows what it eats. He pointed out that presidential Fertilizer Initiative, which is aimed at ensuring the availability of cheaper fertiliser to Nigerian farmers in the production of rice and wheat and other staples is yielding fruits.

Wike, said the decision of Indorama to invest $1.4 billion in the state was a sheer indication that the business climate was conducive. He promised that his administration would continue to support the company to continue operate in the state.

The Chairman of Indorama, Sri Prakash Lohia, said with the commissioning of the plant, Nigeria has become self-sufficient in fertilizer production.

He said Indorama was determined to contribute to Nigeria’s agricultural sector and the rapid expansion of farming activities by making available high quality and affordable fertilizers to farmers across the country.

In another development, the presidency yesterday commissioned Projects worth N1.2 billion in Ekiti State under the Sustainable Development Goals(SDGs), a United Nations assisted programme.

The projects which spread across the three senatorial districts of the state, cuts across education, health and agriculture sector, under which schools and hospitals were built, renovated and support given to farmers to sustain food production in the state.

Senior Special Assistant to the President on SDGs, Mrs. Adejoke Orelope-Adefulire, said N18 million was expended to fortify various agro-based cooperatives in the state to boost food production and reduce hunger.