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

PDP Crisis Deepens as Makinde Meets Kwankwaso Ahead of 2027 Elections

Ahead of the 2027 general elections, Seyi Makinde and...

Concerns as Blessing CEO auctions property for sale amid battle with stage 4 cancer

Nigerian social media personality Blessing CEO has stirred concern...

Power Drop in Plateau, Bauchi, Benue, Gombe Linked to Reduced Grid Allocation — JED

Jos Electricity Distribution Plc (JED Plc) says the recent...

Kaduna Group Inaugurates LG Campaign Structures in Support of Tinubu, Uba Sani

A support group linked to Nigeria’s Minister of Defence,...

FCT Administration Targets May Completion for Key Judicial Infrastructure Projects—Wike

By Joyce Remi-BabayejuThe FCT Minister, Barr. Nyesom Wike has...

Nigeria, Bangladesh Strike Collaboration Deal on Pharmaceutical Development

By Joyce Remi- BabayejuNigeria and Bangladesh have entered into...

NEMA Receives 100 Nigerian Returnees from Algeria Under IOM

By Joyce Remi- BabayejuThe National Emergency Management Agency (NEMA),...

A’Ibom youths protest non- employment, marginalisation in oil palm firm

By Ogenyi Ogenyi, UyoNo fewer than 100 youths from...

Cement at ₦11,000: Is it time for Nigerians to return to building with mud?

Rising cement prices, now exceeding ₦11,000 per bag, are...

Six Diseases Now Deadlier Than HIV Globally — WHO Data

New global health data from the World Health Organization...

Concerns as Blessing CEO auctions property for sale amid battle with stage 4 cancer

Nigerian social media personality Blessing CEO has stirred concern...

Related Articles

Popular Categories

spot_imgspot_img