The Nigerian Government has signed a Memorandum of Understanding with the Government of Niger Republic for petroleum products importation.
In a statement in Abuja, Group General Manager/Special Adviser on Media to the Minister of State for Petroleum Resources, Garba Deen Muhammad, said the MoU was reached following bilateral agreements between President Muhammadu Buhari and President Mahamadou Issoufou of Niger.
According to a statement, Soraz Refinery in Zinder, Niger Republic, has an installed refining capacity of 20,000 barrels per day compared to the nation’s 5,000bpd domestic requirement.
This leaves a surplus of 15,000 barrels per day.
Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation, signed the MoU on behalf of Nigeria while Alio Toune, Director-General of Niger Republic’s National Oil Company, Societe Nigerienne De Petrole, signed on behalf of his country.
Speaking shortly after the MoU signing, Sylva expressed delight over the development, describing it as another huge step in developing trade relations between both countries.
He said, “This is a major step forward. Niger Republic has some excess products which needs to be evacuated. Nigeria has the market for these products. Therefore, this is going to be a win-win relation for both countries. My hope is that this is going to be the beginning of deepening trade relations between Niger Republic and Nigeria.”
Also commenting on the development, the Secretary General of African Petroleum Producers Organisation, Dr. Omar Ibrahim, said he could not be happier with what he witnessed in terms of co-operation and collaboration between the two APPO member countries in the area of hydrocarbons.
He said, “I want to commend the Federal Republic of Nigeria and the Republic of Niger and their leadership for this milestone.”
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
