The federal government is set to begin fuel importation from Niger Republic following a Memorandum of Understanding (MoU) signed by both countries on the transportation and storage of petroleum products
The special adviser on media to the Minister of State for Petroleum Resources, Garba Deen Muhammad made this known in a statement in Abuja.
He said the MoU was reached following bilateral agreements between President Muhammadu Buhari and President Mahamadou Issoufou of Niger.
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.
According to the statement, 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.
It revealed 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.
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.