Business
Nigerian govt to import crude oil from Niger, signs MoU on Katsina refinery
The Federal Government has signed a Memorandum of Understanding (MoU) with the Nigerien Government on the establishment of a modular refinery to be sited in Katsina state and the exportation of crude from the Republic of Niger.
The agreement was signed at the presidential Villa on Tuesday by the ministers of Petroleum Resources of the two countries in the presence of President Muhammadu Buhari and his Nigerien counterpart, Mahamadou Issoufou.
Speaking after the signing of the agreement, Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu, said the refinery would be funded by the private sector and that it would solely rely on the Nigerien crude.
In his address, President Buhari said the initiative would not only provide a reliable market for the stranded crude from the Niger Republic but would also provide petroleum products for Nigeria, as it aggressively pursues its aspiration on petroleum product self-sufficiency.
Read also: Foreign airlines counsel Nigerian govt on national carrier
“This project will be private sector driven with the full support of the governments of both countries and I am happy to understand that several expressions of interest from prospective investors are already being received.
“In this regard, a Steering Committee has been set up to be chaired by the Nigerian Minister of State for Petroleum Resources and the alternate chairman is the Nigerien Minister of Petroleum, to provide strategic leadership, direction and governance oversight for the project,” he said
By Oluwasegun Olakoyenikan….
RipplesNigeria… without borders, without fears
Click here to join the Ripples Nigeria WhatsApp group for latest updates.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...