AFC Backs Nigeria’s Largest Gas-to-Methanol Plant in Akwa Ibom

• Africa Finance Corporation partners with Blackrose and IFC to transform Nigeria’s gas reserves
• The project aims to produce 1.8 million metric tons of methanol annually, driving industrialisation and reducing emissions

Africa Finance Corporation (AFC), a multilateral development finance institution, announced plans to fund a major natural gas-to-methanol plant in Nigeria’s Akwa Ibom state. The project, in partnership with investment firm Blackrose and the International Finance Corporation (IFC), is set to produce 1.8 million metric tons of methanol annually, marking a significant step in converting Nigeria’s wasted gas resources into valuable industrial products.