Nigerian president Goodluck Jonathan has unveiled a $10-billion plan to develop the country’s large gas reserves, including investments in petrochemicals by a Saudi firm and in a fertilizer complex by an Indian company. Jonathan’s “gas revolution” will lead to the creation of up to 500,000 jobs, many of them in agriculture, and help improve power supply to homes and industrial companies in Nigeria, he says. “The investments will result in foreign direct investment of about $10 billion over the next three years,” Jonathan says. NatPet, a subsidiary of Alujain Corp. (Jeddah, Saudi Arabia), says it will invest $3.5 billion to establish a petrochemical complex in Nigeria.
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