• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Ghana to Invest into Yam Production
    Africa Cloud Ecosystem Project: Phase one Launched
    Reserve Bank of Zimbabwe has Initiated Gold Coins to be Sold to the Public in a bid to Repress Uncontrolled Inflation
    Dangote Industries Completes Issuance of $452 Million Bond
    Over $1 billion Approved by the African Development Bank to Fast Track Food Production Plan
    Travel and Tourism Industry in Nigeria to Grow Exponentially Over the Next Decade, Report
    Foundation Improves Agricultural Productivity in West African Sub-Region
    Angola to Expand Oil Refinery Capability
    …Wheat Costs Rise Ivory Coast visions Cassava for its Bread
    Ghana generates US$3.3 Billion From Non-Traditional Exports in 2021, Report

    Nigeria through the Ministry of Petroleum Resources autographed a Memorandum of Understanding with the Administration of Niger Republic for Petroleum Products Importation

    Posted On 23 Nov 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 8

    By Abdul Rahman Bangura–

    Photo Credit: Oilprice

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- However, from an assertion broadcasted by the Ministry, Soraz Refinery in Zinder, Niger Republic, has an established refining facility of 20,000 barrels per day correlated to the nation’s 5,000bpd household requirement. And this takes off a surplus of 15,000 barrels per day.

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari endorsed the MoU on behalf of Nigeria while Alio Toune, Director-General of Niger Republic’s National Oil Company, Societe Nigerienne De Petrole (SONIDEP), approved on behalf of his country.

    The signing was seen by the Ministers of State for petroleum of the two nations, Timipre Sylva for Nigeria and Foumakoye Gado for Niger Republic.

    “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 asserted.

    “My hope is that this is going to be the beginning of deepening trade relations between Niger Republic and Nigeria.”
    In his observations, Kyari stated the two countries have had long betrothals in the last four to five months with a view to rebuilding the importation of petroleum products (excess production) from Niger into Nigeria.

    “With this development, we hope to have a long-lasting and sustainable commercial framework to have a pipeline from the Soraz Refinery in Zinder (Niger) into the most proximate Nigerian city so that we can develop 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.”

    Nigeria presently imports refined petroleum products despite having four refineries. As a result, scarce forex is expended to guarantee that, there is no shortage in the country. Government officials have portrayed confidences that, the 350,000 capacity Dangote refinery being constructed will end the era of petroleum products importation in Nigeria.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    African Airlines Association Urge Members to take Decisive Measures to Remain Resilient

    Next Story

    Africa Development Bank Strives Promptly for Industrialization of the African Landmass

    8 Comments

    1. Rebecca November 23, 2020 at 1:44 am Reply

      Thank you for reporting. We in Africa need more refining facilities and capacity, for our crude oils. Would give us opportunity to use and export oil. Time to process our natural resources. Cape town South Africa. Rebecca

      • New Africa Business News, Staff Correspondent November 23, 2020 at 1:45 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Natalie November 23, 2020 at 1:49 am Reply

      Fan of your online newspaper. Love it. Toronto Canada. Natalie

      • New Africa Business News, Staff Correspondent November 23, 2020 at 1:50 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Stephen November 23, 2020 at 1:55 am Reply

      I love seeing and reading of all the beautiful progress, happening all over Africa. Make Afrika Great. Nairobi Kenya. Stephen

      • New Africa Business News, Staff Correspondent November 23, 2020 at 1:56 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Martin November 23, 2020 at 1:59 am Reply

      Like to thank you for the newsletters. Please continue covering the whole Continent. Africa is our Africa. Kigali Uganda. Martin

      • New Africa Business News, Staff Correspondent November 23, 2020 at 2:00 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Ghana to Invest into Yam Production

    Posted On 05 Aug 2022

    Africa Cloud Ecosystem Project: Phase one Launched

    Posted On 02 Aug 2022

    Reserve Bank of Zimbabwe has Initiated Gold Coins to be Sold to the Public in a bid to Repress Uncontrolled Inflation

    Posted On 28 Jul 2022

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    New Africa Business News, Person of the Year 2020-2021, Goes to Dr. Arikana Chihombori Quao

    Posted On 01 Jan 2021

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Facebook

    Latest Posts

    Ghana to Invest into Yam Production

    Africa Cloud Ecosystem Project: Phase one Launched

    Reserve Bank of Zimbabwe has Initiated Gold Coins to be Sold to the Public in a bid to Repress Uncontrolled Inflation

    Recent Posts

    • Ghana to Invest into Yam Production
    • Africa Cloud Ecosystem Project: Phase one Launched
    • Reserve Bank of Zimbabwe has Initiated Gold Coins to be Sold to the Public in a bid to Repress Uncontrolled Inflation
    • Dangote Industries Completes Issuance of $452 Million Bond
    • Over $1 billion Approved by the African Development Bank to Fast Track Food Production Plan

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.