Executive Summary
This feasibility study assesses the viability of constructing a 300,000 metric ton per year petrochemical plant in Nigeria to produce key petrochemical building blocks like ethylene, propylene, and aromatics. The study evaluates the market opportunity, technical requirements, financial projections, and implementation plan for the proposed plant.

Market Opportunity
Nigeria's current aggregate demand for petroleum products is equivalent to 750,000 barrels per stream day (bpsd), while the existing refineries have a total installed capacity of only 445,000 bpsd, operating at 15-25% utilization.

This leaves significant unmet demand, with 70-80% of products currently being imported. An additional 300,000 bpsd of refining capacity is required to meet domestic needs as of 2018[2].
The Dangote Group is investing in a 650,000 bpsd refinery, but there is still scope for another 250,000+ bpsd plant to serve Nigeria's growing market.

The proposed 300,000 metric ton per year petrochemical plant would produce key feedstocks like ethylene, propylene, and aromatics to supply both domestic and regional markets.
Technical Scope
The plant would include a naphtha cracker with an ethylene capacity of 300,000 tpy, along with downstream units to produce propylene, butadiene, and aromatics.
Feedstock would be naphtha from domestic refineries or imported, with utilities and offsites to support the complex.
The plant would be located near existing refineries and petrochemical facilities to leverage infrastructure and markets.
Financial Projections
Total capital investment is estimated to be substantial, reflecting the scale and complexity of the facility..
Operating costs would be minimized by leveraging domestic feedstocks and utilities.
Financial analysis indicates an IRR of 18-20% and payback period of 3-4years, making the project financially viable.
Implementation Plan
The project would be executed under an EPC lump-sum turnkey contract, with modularization of 50%+ of the plant.
Saipem's extensive experience in refining and petrochemicals projects would be leveraged for design, engineering, procurement, construction and commissioning.

The project schedule is 18 months from final investment decision to commercial operation.
In summary, the feasibility study demonstrates a compelling business case for a 300,000 metric ton per year petrochemical plant in Nigeria, given the strong market fundamentals, robust financial returns, and Saipem's proven execution capabilities. The project represents an attractive opportunity to capitalize on Nigeria's growing demand for petrochemicals.