A memorandum of understanding with the Government of the Niger Republic for the importation of petroleum products has been signed by the Nigerian Government via the Ministry of Petroleum Resources.
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, according to a statement issued by the Ministry of Petroleum Resources. This leaves a surplus every day of 15,000 barrels.
The MoU was signed on behalf of Nigeria by Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), while Alio Toune, Director-General of the National Oil Company of the Niger Republic, Societe Nigerienne De Petroleum (SONIDEP), signed it on behalf of the Niger Republic.
The signing was observed by the two countries’ ministers of state for energy, Timipre Sylva for Nigeria and Foumakoye Gado for the Republic of Niger.
“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,” Sylva said.
“My hope is that this is going to be the beginning of deepening trade relations between Niger Republic and Nigeria.”
In his remarks, Mele Kyari claimed that in the last four to five months, Nigeria and the Republic of Nigeria have had long commitments to restore imports of petroleum products (excess production) from Niger to Nigeria.
“He said: “We expect to provide a long-lasting and viable economic structure with this construction to have a pipeline from the Zinder (Niger) Soraz Refinery to the nearest Nigerian city so that we can establish 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.”
Despite possessing four refineries, Nigeria reportedly imports refined petroleum products.