NIGERIA SIGN PIPELINE & REFINERY MOU DEAL WITH NIGER REPUBLIC

Nigeria and Niger Republic agree MoU for the construction of a pipeline and Refinery in katsina state.

Nigeria and Niger Republic has sign an MoU for the construction of a pipeline and refinery. The deal will also help both nation create and share information in the Oil and Gas sector.

According to report, the pipeline construction will be from Niger republic to the new refinery in Katsina state. It will also provide petroleum products for Nigeria.

President Buhari said Nigeria and Niger have excellent relations for several decades. He also said that the construction of refinery facilities in Katsina State is a “win – win” for both nations.”

The construction will help generate funds for the both nations. It will be in the hands of a private sector with the full support of the governments of both countries.

President of Niger Republic, Mahammadou Issoufou said ”the signing of the memorandum is an important step in the consolidation of the mutually beneficial bilateral relations between the two countries. He also said it is a greater need for more integration among African countries.”

President Buhari, inaugurated two Committees, a Steering Committee to be co-chaired by the Nigerian and Nigerien Petroleum Ministers.

According to President Buhari, the two committees by December will come up with a detailed road-map and guideline leading to actual execution of the projects.

Meanwhile several expressions of interest (EOI) from prospective investors has been receive according to the Nigeria Minister of Petroleum.

Also, the Nigeria Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, the construction of Refinery in Mashi, Katsina State will be complete in 2021. When complete the refinery will have the capacity to produce 150,000 barrels per day. It will also provide job opportunities for more than 2,500 Nigerians.

There is potential to also establish another extension of the refinery in Kaduna State.

Private Investors Interest

A Nigerian investor, Ibrahim Zakari, who owns Blak Oil Energy Refinery said construction of the Mashi Refinery will require about two(2) billion dollars. He also added that his company have already mobilized a substantial part of the two(2) billion dollars.

Mr. Zakari pledged to spearhead the take-off of the first 100 percent private driven refinery.