Nigeria to commence petroleum importation from Niger Republic
Nigeria, which is known as the biggest oil producer in Africa, is set to resume the importation of petroleum products from its neighbouring country, the Niger Republic.
The Ministry of Petroleum Resources made this known yesterday via a statement where it (the Ministry of Petroleum Resources) said that the two countries (Nigeria and Niger Republic) had signed a Memorandum of Understanding.
The Memorandum of understanding which covers petroleum products transportation and storage between the two nations, was signed on Thursday.
According to the statement, Niger Republic's Soraz Refinery in Zinder has an installed refining capacity of 20,000 barrels per day.
"Niger's total domestic requirement is about 500bpd thus, leaving a huge surplus of about 15,000 bpd, mostly for export", the report said.
According to the Ministry of Petroleum Resources, the MoU between Nigeria and the Niger Republic was signed by the Group Managing Director, NNPC, Mallam Mele Kyri and the Director-General of SONIDEP, Mr Alio Toune.
The signing was also done under the supervision of the two countries' Ministers of State for Petroleum, Timipre Sylva and Foumakoye Gado, respectively.
The Secretary-General of the African Petroleum Producers Organisation was also in attendance.
"This is a major step forward. The Niger Republic has some excess products which need to be evacuated. Nigeria has the market for these products.
"Therefore, this is going to be a win-win for both countries", Nigeria's Minister of State for Petroleum, Sylva said.
NNPC GMD, Kyari said that Nigeria and the Niger Republic had had long engagements in the last four to five months with a view to restoring the importation of petroleum products from the Niger Republic into Nigeria.
"With this development, we hope to have a long-lasting and sustainable commercial framework to having a pipeline from the Soraz Refinery in Zinder (Niger) into the most proximate Nigerian city so that we can develop a depot", he said.
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