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Energy

Nigeria to import petroleum products from Niger Republic, sign MoU on transportation, storage

FG signed MoU with Niger Republic on the transportation and storage of petroleum products.

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The Federal Government has signed a Memorandum of Understanding (MoU) with Niger Republic on the transportation and storage of petroleum products.

This was disclosed by the Ministry of Petroleum Resources via its Twitter handle on Thursday.

It tweeted, “Nigeria, Niger Republic Sign MoU on Petroleum Products Transportation, Storage. NNPC Pledges to Support SONIDEP on Capacity Building.”

The MoU was signed by the GMD NNPC, Mallam Mele Kyari and the Director-General of SONIDEP, Mr. Alio Toune under the supervision of the two countries’ Ministers of State for Petroleum, Çhief Timipre Sylva and Mr. Foumakoye Gado, respectively with the Secretary-General of the African Petroleum Producers Organisation (APPO), Dr. Omar Farouk Ibrahim in attendance.

Sylva explained that development is 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.”

 

What you should know

Following bilateral agreements between Nigeria’s President Muhammadu Buhari and President Mahamadou Issoufou, talks have been on-going between two countries for over four months – through the Nigerian National Petroleum Corporation and Niger Republic’s National Oil Company, Societe Nigerienne De Petrole (SONIDEP), on petroleum products transportation and storage.

Niger Republic’s Soraz Refinery in Zinder, some 260km from the Nigerian border, has an installed refining capacity of 20,000 barrels per day. Niger’s total domestic requirement is about 5,000bpd, thus leaving a huge surplus of about 15,000 bpd, mostly for export.

Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper.The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference.The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

4 Comments

4 Comments

  1. Nickfavour

    November 21, 2020 at 4:17 am

    Which way Nigeria??? Importing petroleum products from Niger, and the minister of petroleum and others without shame publishing what they ought to be ashamed of.

  2. Hiroshi Tanaka

    November 21, 2020 at 7:16 am

    Very interesting update. Thank you for the article. Pr. Hiroshi TANAKA, watcher of West Africa (distant prof. of project management in Dakar), ex EPC company which built NNPC Port Harcourt Refinery.

  3. Pius

    November 22, 2020 at 1:11 pm

    What is the catch, what does Nigeria stand to gain from it

  4. Million man

    November 27, 2020 at 7:10 pm

    The Niger benefits for from nigeria.the crude that is been refind in Niger is nigerian crude. We know that.there are no refineries working in de country, buh pipelines are been constructed to de nurth.

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