By Francis Ogwo
A Memorandum of Understanding (MoU) has been signed between Nigeria and Niger on the transportation and storage of petroleum products.
This was made public by the Ministry of Petroleum Resources through a tweet on its official handle on Thursday.
In the tweet, it said: “Nigeria, Niger Republic Sign MoU on Petroleum Products Transportation, Storage. NNPC Pledges to Support SONIDEP on Capacity Building.”
According to the information, the MoU was signed by the GMD NNPC, Mallam Mele Kyari, and the Director-General of SONIDEP, Mr. Alio Toune, under the supervision of the two countries’ Ministers of State for Petroleum, Çhief Timipre Sylva and Mr. Foumakoye Gado, respectively with the Secretary-General of the African Petroleum Producers Organisation (APPO), Dr. Omar Farouk Ibrahim, in attendance.
The Minister of State for Petroleum,Timipre Sylva, was of the view that trade relationship between the two countries would further get a boost with the development.
In his words, “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.”
Following bilateral agreements between Nigeria’s President Muhammadu Buhari and President Mahamadou Issoufou, talks have been ongoing between the two countries through President Muhammadu Buhari and President Mahamadou Issoifou for over four months through the Nigerian National Petroleum Company and Niger Republic’s National Oil Company, Societe Nigerienne De Petrole (SONIDEP) on petroleum products transportation and storage.
Hence this agreement would further boost the relationship between the two West African neighbours.