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FG signs new MoU to import fuel from Niger Republic

Valentine Chinyem

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The Federal Government has signed a Memorandum of Understanding (MoU) with its Nigerien counterpart, for the importation of petroleum products.

The meeting which was held by the ministry of petroleum resources and the government of Niger Republic had in attendance the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari as well the Minister of Petroleum Resources (State) Timipre Sylva.

Also, Alio Toune, director-general of Niger Republic’s National Oil Company, Societe Nigerienne De Petrole (SONIDEP) as well as Foumakoye Gado, Minister of State for Petroleum Resources in Niger Republic, were in attendance.

In a statement which was issued by the 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.

Speaking after witnessing the signing of the MoU by Mele Kyari and Alio Toune, Sylva described the development as a win-win for both countries.

He said, “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 relationship for both countries.”

“My hope is that this is going to be the beginning of deepening trade relations between Niger Republic and Nigeria.”

Also, Kyari, in his remark, noted that both 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.

“With this development, we hope to have a long-lasting and sustainable commercial framework to have a pipeline from the Soraz Refinery in Zinder (Niger) into the most proximate Nigerian city so that we can develop a depot.

“We are happy that we have reached that conclusion and our two ministers have endorsed this framework. We are also working on a detailed MoU between our two companies so that we can continue the execution process immediately,” he said.