x

Importing petrol from Niger Republic will boost country’s poor economy, says Timipre Sylva

Timipre Sylva, Nigeria’s Minister of State for Petroleum Resources, has asked citizens to be proud of the country for the importation of refined petrol from neighbouring Niger Republic.

Niger is one of the poorest nations in the world but has succeeded in developing its refinery to produce at a greater capacity than its very rich neighbour, Nigeria.

The decision to import petroleum products from Niger, which was announced last week Thursday, angered Nigerians, who described it as an act of retrogression for the country.

Sylva said, “I don’t see that as an embarrassment at all. As a country, Nigeria is a big market, we need products, even if all our refineries were functioning, we will still need extra products.

“Niger Republic produces oil and they are landlocked as a country. They have a refinery that produces in excess of what they require as a country and they offered to sell to us in Nigeria because this is a bigger market.

“In the spirit of regional cooperation, regional trade development, we decided to buy from them. I don’t see anything wrong with that. If your neighbour is producing something that is required in your country and you buy from him, why is that a big problem?

“So, we agreed with Niger to buy the excess of what they don’t require in Niger because this is a big market.

“Nigerians should be proud that we are doing that to encourage sub-regional trade because we have been talking about sub-regional trade for a long time and this is how it should be between neighbouring countries.

“Niger should import from us what they have and we should be able to import from Niger what they have. Let us encourage intra-regional

RELATED POSTS:

COVID-19 vaccine discovery, remote cause of petrol price increase – Sylva

Buni reconciles Ameachi, Sylva

COVID-19: FG to begin cost contaiment in oil/gas industry- Sylva

Hot this week

Reps Urge FG to Harmonise Poverty Reduction Programmes

The House of Representatives has urged the Federal Government...

JUST IN: NLC, TUC suspend FCT protest after meeting with Wike, Senate committee

The Nigeria Labour Congress and the Trade Union Congress...

Abuja @ 50: Wike says Tinubu’s Administration behind Abuja’s Transformed Landscape

… Inspects Major Projects for CommissionBy Joyce Remi-BabayejuThe FCT...

Davido reflects on Grammy loss, shares Chioma’s reaction

Afrobeats star Davido has spoken publicly about his loss...

Kano Group Questions Senator Hanga’s Position on Kwankwasiyya, Cites Petition to ICPC

The Kano People’s Rights Alliance (KPRA) has criticised recent...

INEC registers Democratic Leadership Alliance, Nigeria Democratic Congress ahead of 2027 polls

The Independent National Electoral Commission (INEC) has approved the...

Ex-Benue governor Suswam joins APC as PDP says he was already expelled

Former Benue State Governor and ex-senator, Gabriel Suswam, has...

Remaining abducted Kaduna worshippers regain freedom

The remaining worshippers abducted during a recent attack on...

Senate rejects mandatory electronic transmission of election results

The Senate has rejected a proposed amendment seeking to...

Sapele Land: Do Not Dare Us, Okpe Group Warns Itsekiri Chief, Others

Francis WilfredThe Pan Okpe Socio-Political and Cultural group has...

Oborevwori Urges New Police Cadets to Uphold Integrity and Professionalism

Delta State Governor, Rt. Hon. Sheriff Oborevwori, has urged...

Related Articles

Popular Categories

spot_imgspot_img