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Oil-rich West African nation will be turned into a regional petrochemical hub

March 04/2011

(Canadian Business) -- Nigeria's government says it is building eight industrial plants to turn the oil-rich West African nation into a regional petrochemical hub. Minister of Petroleum Diezani Alison-Madueke said Tuesday at a presidential rally in the commercial capital of Lagos that the president had approved the construction of a petrochemical plant in Nigeria, as per Associated Press.

She said it would be followed by two fertilizer plants and five fertilizer-blending plants. She said the plants would create 300,000 jobs. She offered no further details about where the plants would be built or how money for construction would be raised.

The announcement came less than two months ahead of April polls when Nigerians will decide if they want to extend the mandate of President Goodluck Jonathan.

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