By: Akin Akinremi
The emergence of Indorama Eleme Petrochemicals Limited (IEPL), Port Harcourt through the nation’s privatisation programme in 2006 and the commissioning of its world-class fertilizer plant in 2016 have fuelled tremendous socio-economic activities in Nigeria, especially in the industrial and agricultural sectors. Indorama’s fertilizer plant in Port Harcourt with capacity for 1.5 million metric tons of granular Urea is the world’s largest single-line Urea facility.
Right from August 2006, IEPL has been supplying highly needed petrochemicals – polyethylene, polypropylene and PET (also called polymer resins), of different grades and variants to over 450 Nigerian companies spread all over the country.
These companies use Indorama resins to manufacture items such as water tanks; automobile dashboards, bumpers and fenders; helmets, waste disposal bins, carpets, artificial hairs, containers for healthcare products, bottles for water and beverages, plastic chairs and tables, sacks, shopping bags, industrial pipes, bread wrappers and other packaging products used in the beverage, bottling, pharmaceuticals, paints, textiles and allied industries.
In the area of fertilizers, Indorama Eleme Fertilizer and Chemicals Limited (IEFCL) has become Nigeria’s prime fertilizer solutions provider through supplies of its granular Urea to over 20 million farmers across all the states and Abuja, as well as giving free agronomy extension services and training to the farmers.
All these efforts are aimed at boosting food production and food security in the country thereby alleviating hunger and poverty — which are among the agricultural transformation agenda of the Muhammadu Buhari administration.
After satisfying all local demands for fertilizer, surplus production will be exported to earn foreign exchange for the country. It will be recalled that in 2012, IEPL won the Presidential Award for putting Nigeria on the global petrochemicals export map.
Top government officials including ministers, regulators and members of the National Assembly have declared Indorama as a success story of privatisation in Nigeria, considering its numerous achievements that have helped to power Nigeria’s economy.
Users of Indorama’s Urea fertilizer and its petrochemical products as raw materials create huge employment opportunities for Nigerians — directly and indirectly. The multiplier effect on the economy is formidable. It is not surprising why experts believe strongly that, indeed, Indorama is fueling socio-economic growth in Nigeria!
Indorama is a strong member of the Manufacturers Association of Nigeria (MAN). The immense contributions of Indorama especially in the areas of petrochemicals and fertilizer were proudly acknowledged at last year’s Annual General Meeting of MAN in Abuja, which was attended by President Buhari.
Last November 2016, Minister of State for Agriculture & Rural Development, Senator Heineken Lokpobiri visited Indorama. His assessment was that of excellent performance, especially in the area of providing fertilizers for farmers across the country. He said the Federal Government relies so much on Indorama fertilizer to realize its goal of bumper harvest and food security in the country.
Also in November 2016, the Senate Committee on Privatisation & Commercialisation visited Indorama as part of its oversight function. After touring both the petrochemicals and fertilizer plants, Chairman of the Senate Committee, Senator Ben Murray Bruce, said they were convinced that Indorama is the best success story of privatisation in the country.
Indorama has also contributed remarkably to the wellbeing of its host communities in Rivers State through numerous community development projects and Corporate Social Responsibility (CSR), initiatives including enjoying the dividends of their 7.5% shares of the company.
Managing Director of Indorama-Nigeria, Mr Manish Mundra says the company will continue to pursue its vision of making Nigeria the petrochemicals and fertilizer hub of Africa by the year 2020.