Africa’s biggest oil producer, Nigeria, is set to resume the importation of petroleum products from Niger Republic.
The Ministry of Petroleum Resources announced on Thursday in a statement that the two countries signed a Memorandum of Understanding for petroleum products transportation and storage.
In the statement, Niger’s Soraz Refinery in Zinder, about 260km from the border with Nigeria, has installed a refining facility with capacity for 20,000 barrels per day.
“Niger’s total domestic requirement is about 5,000bpd, thus leaving a huge surplus of about 15,000 bpd, mostly for export,” it said.
The ministry confirmed the MoU was signed by the Group Managing Director of Nigeria National Petroleum Corporation, Mallam Mele Kyari and the Director-General of SONIDEP, Mr Alio Toune. The agreement was supervised by the each country’s Ministers of State for Petroleum, Çhief Timipre Sylva and Mr Foumakoye Gado, respectively with the Secretary-General of the African Petroleum Producers Organisation, Dr Omar Ibrahim, present as a witness.
“This is a major step forward. Niger Republic has some excess products which needs to be evacuated. Nigeria has the market for these products. Therefore, this is going to be a win-win relation for both countries,” Sylva said.
Mele Kyari said the two countries had long been engaged in the last four to five months planning and structuring recommencement of the importation of petroleum products (excess production) from Niger into Nigeria.