The Nigerian National Petroleum Company (NNPC) has announced that the Brass Fertiliser and Petrochemical Project, valued at over $3 billion, will reach financial close in Q4 2025, after nearly a decade of planning, delays, and funding uncertainties.
The state-owned energy company revealed this in its latest monthly financial and operational report for April 2025, released on June 13, 2025, and seen by Energy in Africa.
The Brass project is located on Brass Island, near the St. Nicholas Riverin Bayelsa State.
It includes a dedicated export jetty and gas-processing infrastructure to support methanol and urea production.
The project is designed to be built in two phases. Phase 1 is envisioned to produce 1.66 million tons per year of methanol and 1.3 million tons per year of urea, including a dedicated export jetty and a 300 mmcf/d gas processing plant.
As of October 2024, the project was valued at $3.3 billion and is projected to generate over $1.5 billion in annual exports of fertilizers, petrochemicals, and gas-based products.
That same year, NNPC and its joint-venture partners—Shell, TotalEnergies, and Eni—signed a $3.5 billion gas sales and purchase agreement (GSPA) to supply 270 mmcf/d to the proposed facility.
Industry analysts say this is the largest single GSPA to any domestic gas offtaker in Nigeria.
Economic benefits of the project
In his speech at the deal signing, Nigeria’s gas minister Ekperikpo Ekpo said, “Achieving this GSPA showcases Nigeria’s business-friendly environment and the government’s commitment to investor-friendly policies.”
The minister also urged all concerned parties to maintain steadfastness to achieve financial closure and commence construction on the project, which he said “would bring in much-needed foreign direct investment and create thousands of jobs for our teeming population while changing the face and fortunes of the host Bayelsa State and community for good.”
Similarly, Permanent Secretary, Ministry of Petroleum Resources, Nicholas Agbo, said that “The project will reduce fertilizer imports by 30%, saving Nigeria approximately $200 million in foreign exchange annually, and contribute around $600 million annually to Nigeria’s GDP.”
While the actual executor of the Brass fertiliser facility isn’t clear, China Road and Bridge Corporation (CRBC) reached a $3.3 billion deal with the Nigerian government in 2024 to develop a methanol complex and industrial park tied to the project.
Meanwhile, BP reached a $6 billion exclusive deal with NNPC in 2017 to offtake methanol from Phase 1 of the Brass project over a period of 10 years.
Also mentioned in the one-page document is the Ajaokuta-Kaduna–Kano (AKK) gas pipeline project, on which NNPC boss Bayo Ojulari had said work would resume.
The report stated that the pipeline project was at 70% completion as of April.
