The Tragic Story of NAFCON

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NAFCON To Start National Diploma Program — Nyscinfo.com

*Before Kelloggs a US Harlliburton Co, built NAFCON, they had built 115 Complexes of the NAFCON model, using a patented process of fixing Methane gas with Nitrogen to obtain Ammonia.*

 

*Now for the NAFCON the 116th plant Kelloggs built, the raw materials were ~Natural gas (95% Methane) & Air (80% Nitrogen), was the cheapest anywhere in the world.*

 

The Shell Alakiri gas field somewhere in Ogoni land, had enough gas reserves to feed NAFCON for 120yrs! The Natural Air was so abundant. So extracting Methane & Nitrogen to make Ammonia, was a fertilizer manufacturers dream @NAFCON.*

 

But what happened? After obtaining Ammonia from Gas & Air, it was then fixed with Carbon Dioxide to obtain Urea. Urea was the second line, but the flagship fertilizer product. NAFCON also made NPK besides Ammonia & Urea, from fixing Urea with imported Phosphoric Acid & Potassium Chloride.*

 

 

*THE UREA SCAM*

 

*Back to the main product Urea. NAFCON Urea from Alakiri Gas & Air was so cheap, it was produced ex-Factory for $42 per metric tonne, the lowest in the world. This was a product sold in Europe then (1988/89) for $140 per metric tonne.*

 

*So what did the NAFCON cabal do? Instead of selling direct to the World market @$42 -$50/mTons, The predatory, exploitative rent seeking cabal, simply went to Belgium to float a holding company called INTERORE, supposedly a subsidiary of NAFCON. This trading company acquired large warehouses in Belgium to stock NAFCON Urea, shipped to it @$100/mtons! This was fertilizer produced @$42/mtons. The company now sold @$142/mtons at EU open market. $42/mtons less operating costs @INTERORE was then remitted back as profit to NAFCON. The cabal now split the almost $60/mTons between Onne production cost & Cabal (landing) cost @INTERORE in Belgium.*

 

*I was Manager NAFCON Jetty almost 2yrs with an Technical Oilfield Services & Chemical background. We used to ship 1,500 to 2,000 metric tonnes daily in late 1980s when the Company was in it’s prime. That translated to a Cabal profit of $75,000 daily, using a low $50 margin & 1,500mTons daily shipment. This added up to $2.25m monthly, $27m annual creaming off NAFCON profit, just on Urea.*

 

*Besides NAFCON products which included Ammonia, Urea & NPK, this same Cabal were the main suppliers of most technical equipment, labour, security even products shipping. The NAFCON Chairman at the time ~Alhaji Hassan Adamu, the Wakili Adamawa, launched his shipping company largely on the back of NAFCON. His flagship MV Wakili was the first ship to lift NAFCON Urea & subsequently only vessels leased or affliated to him, berthed in NAFCON Jetty. Other members of the Cabal made up of Gen Babangida FGN top members and also top NAFCON management, also owned Gas bottling plant, Fuel stations, Sack bags plant, Kaolin grinding & supply plant, Travel agency, even Newspaper company opposite Bori Camp.*

 

*That was how NAFCON was brought to it’s knees and bled to death under 10yrs (1987-97), until it finally closed shop.*

 

*Today all those Cabal run, parasitic quasi- enterprises that sprung up along Aba road Port Harcourt on the back of NAFCON, have long been taken over by weeds and rodents, dead & buried.*

 

*NAFCON today has been sold to private investors, armed with funds which sources  one do not  very clear.  This is typical of the Nigerian Business class. They are not the Bill Gates, the Steve Jobs, Mark Zuckerburg type acquiring companies to create wealth and public value, by sheer grit, enterprise & intellectual properties and much more. The typical Nigerian billionaire hit fortune on the back of Government and public funds ~, rent seeking “Allocation” allotees, Oil market trading, access to cheap CBN forex, insider trading, Banking insider scams etc in which Governments are complicit and so on.*

 

*So also, was the sad story of NAFCON, a dream that died a premature death, while the other 115 “senior brother” Fertilizer Complexes built before it by the same Kelloggs USA, continue to thrive.

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