JUST IN: Nigeria, Niger Republic sign MoU on petroleum products storage, transportation

The Nigerian Government has signed a Memorandum of Understanding (MoU) with Niger Republic on the transportation and storage of petroleum products.

OnyxNews Nigeria reports that this development was made public by the Ministry of Petroleum Resources via micro-blogging site, Twitter on Thursday.

It tweeted, “Nigeria, Niger Republic Sign MoU on Petroleum Products Transportation, Storage. NNPC Pledges to Support SONIDEP on Capacity Building.”

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, Chief Timipre Sylva and Mr. Foumakoye Gado, respectively with the Secretary-General of the African Petroleum Producers Organisation (APPO), Dr. Omar Farouk Ibrahim in attendance.

Sylva explained that development is another big step in developing trade relations between both countries.

“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.