President Muhammadu Buhari has stated that the crude oil export from the Republic of Niger and construction of refinery facility would provide additional oil for Nigeria.
This he said, was apart from the fact that it would help provide a reliable market for the stranded crude from the Republic of Niger.
Buhari made these remarks on Thursday, during the signing of the Memorandum of Understanding on the crude oil export from the Republic of Niger and construction of refinery facilities.
His words: “Nigeria sees this cooperation on crude oil export from the Republic of Niger and construction of refinery facilities in Katsina State as a “win – win” for both nations.
“The initiative will not only provide a reliable market for the stranded crude from the Niger Republic but will also provide petroleum products for Nigeria, as it aggressively pursues its aspiration on petroleum product self-sufficiency.”
READ ALSO: Oyedepo to Buhari: Resign! Get out of office!
The president said it was his belief that the current frontier exploration efforts in the Northern part of the country (Chad Basin, Gongola Basin, Sokoto Basin, Bida Basin and Benue trough) would also result in the provision of additional hydrocarbon inflow to the corridors of the proposed pipeline and a potential refinery around Kaduna axis.
He expressed happiness over the “several productive engagements held between the Nigerian and Nigerien authorities.”
He stated that: “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.
“Further to this, a senior level Joint Technical Team is carefully selected based on competence to develop the implementation roadmap and strategy on both the refinery and pipeline projects.
“This team will be led by Nigeria’s Engineer Rabiu Suleiman supported by the DG Hydrocarbon of Niger Republic.”
He said the group would come up with a detailed roadmap and guideline leading to actual execution of the projects.
