Blue Seal Energy Group (BESG) has announced the groundbreaking of the first chemical production plant in Ibeju Lekki, Lagos, at the weekend.
Managing Director/Chief Executive Officer (CEO) of the firm, Mr. Doyle Edeni, disclosed the latest intervention by the firm to bridge the massive importation of chemicals into the country.
Edeni, added that the first phase of the 35,000 metric tons per annum chemical plant would cost about $12.5 million with a potential to expand.
Prior to the decision of the firm to set up a production plant in Nigeria, he said the company imports from its parent firm in Houston, USA. Quoting World Bank Figures, he said Nigeria imported chemicals to the tune of $1.4 billion in 2019 alone, out of which his company was responsible for $5 million dollars yearly.