Nigeria spends $11bn yearly on importation of petrochemicals despite local opportunities

Nigeria reportedly spends $11billion yearly on the importation of petroleum related products better known as petrochemicals used for pharmaceuticals, transportation and personal care products, without properly exploring local avenues of production. Analysts have raised concerns over this level of spending and underutilization of Nigeria’s resources, despite being an oil rich country. Emmanuel Anyaeto, Managing Director,…

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