The MoU was reached following bilateral agreements between President Muhammadu Buhari and President Mahamadou Issoufou of Niger.
The federal government has signed a Memorandum of Understanding (MoU) with the Republic of Niger for the transportation and storage of petroleum products
Garba Deen Muhammad, special adviser on media to the Minister of State for Petroleum Resources, disclosed this in a statement in Abuja on Thursday.
He said the MoU was reached following bilateral agreements between President Muhammadu Buhari and President Mahamadou Issoufou of Niger.
Mr Muhammad stated that the MoU was signed by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, and the Director-General of SONIDEP, Alio Toune.
He noted that MOU was signed under the supervision of the two countries’ Ministers of State for Petroleum, Timipre Sylva and Foumakoye Gado, respectively, with the Secretary General of the African Petroleum Producers Organisation (APPO), Omar Ibrahim, in attendance.
He said talks had been ongoing between the two countries for over four months – through the NNPC and Niger Republic’s National Oil Company, Societe Nigerienne De Petrole (SONIDEP) – on petroleum products transportation and storage.
He explained that Niger Republic’s Soraz Refinery in Zinder, some 260 kilometres from the Nigerian border, has an installed refining capacity of 20,000 barrels per day.
According to him, the country’s total domestic requirement is about 5,000 barrels per day (bpd), thus leaving a huge surplus of about 15,000 bpd, mostly for export.
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.
“This is a major step forward. 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 relation for both countries.
“My hope is that this is going to be the beginning of deepening trade relations between Niger Republic and Nigeria,” he said.
Also commenting on the development, Mr Ibrahim said he could not be happier with what he witnessed in terms of cooperation and collaboration between the two APPO member countries in the area of hydrocarbons.
“I want to commend the Federal Republic of Nigeria and the Republic of Niger and their leadership for this milestone,” he said
Also, Kyari said the two countries have had long engagements in the last four to five months with a view to restoring the importation of petroleum products (excess production) from Niger into Nigeria.
