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The Nigerian Government has signed a memorandum of understanding (MOU) with the government of Niger Republic for petroleum products importation.
Garba Deen Muhammad, Group General Manager/Special Adviser on Media to the Minister of State for Petroleum Resources, disclosed this in a statement in Abuja on Friday.
Muhammad said the MoU was reached following bilateral agreements between President Muhammadu Buhari and President Mahamadou Issoufou of Niger.
According to the Petroleum Ministry, 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.
“This is a major step forward. Niger Republic has some excess products which needs to be evacuated,” Timipre Sylva, Minister of State for Petroleum said shortly after the MoU signing, while expressing delight over the development.
“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.”
“I want to commend the Federal Republic of Nigeria and the Republic of Niger and their leadership for this milestone,” Dr. Omar Ibrahim, Secretary General of African Petroleum Producers Organisation, also remarked on the agreement.
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.
