The Managing Director of Brass Fertiliser and Petrochemical Company, Chief Ben Okoye, disclosed this on Tuesday, September 2, 2025, during a courtesy visit by the company’s management team to the Bayelsa State Governor, Senator Douye Diri at Government House, Yenagoa.
He said the visit was to formally inform the state government that work on the $3.5 billion project would commence in October this year.
Chief Okoye explained that the 10,000 metric tonne per day methanol project was delayed due to the lack of an agreement on the gas component. However, he stated that President Tinubu last October directed the Minister of State for Petroleum (Gas) to initiate the project, and that the agreement was signed in January this year.
He assured the state government that the necessary steps have been taken to fully implement the project and thanked the governor for constructing the Nembe-Brass road, which he noted would save the company up to $100,000 in logistics costs for transporting equipment and materials by river to the project site.
The Project Coordinator, Mr. Cyril Akika, in a presentation, listed the project’s benefits, which include economic transformation, as it would increase tax revenues, royalties, internally generated revenue, boost Bayelsa SMEs through project supply chains and equity dividends for the state.
Other benefits include infrastructure and community impact, positioning the Brass Free Zone as a global petrochemical hub, as well as the development of a port, jetty, logistics base, and a 300MW gas-fired power plant to ensure energy security, among other advantages.
Responding, Senator Diri commended the company for the visit and requested an equity stake in the Brass Fertiliser and Petrochemical Company project.
The governor stated that the state’s stance was necessary due to the negative consequences of excluding oil-producing states and local governments from the Petroleum Industry Act (PIA).
Senator Diri argued that the implementation of the PIA has been hindered in host communities due to irregularities in the legislation.
He noted that the disregard in the PIA of the Nigerian Constitution, which vests control of land in the state government, was a flaw that has necessitated calls for its review.
The governor expressed the hope that the petrochemical company would be different and urged the management to partner with the state government to correct the imbalance and avert conflicts in its host communities.
Diri, who commended the President Bola Tinubu administration for resuscitating the project, said it was long overdue.
He said that the Brass Fertiliser and Petrochemical Company was conceptualised in 2009 but gained some traction during the administration of his predecessor before it fizzled out again.
He also appreciated the president for his positive response to the state’s requests for federal government presence, exemplified by the revival of the fertiliser and petrochemical project.
