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

Don’t Trade Dialogue for Division, Mahmoud Cautions FCT Youths

By Joyce Remi-BabayejuThe FCT Minister of State, Dr. Mariya...

Airports, Drug Syndicates, and Nigeria’s Global Reputation

By Tahir WaliNigeria’s airports are more than transit points;...

Witness Alleges NSITF Contract Was Awarded to Non-Bidding Company in Ngige Trial

A prosecution witness has told the Federal High Court...

Bayelsa Governor Diri Urges Mass Participation in 6th SDD Marathon

Bayelsa State Governor, Senator Douye Diri, has called on...

NCC, NDPC Sign MoU to Strengthen Data Protection in Nigeria’s Telecom Sector

The Nigerian Communications Commission (NCC) and the Nigerian Data...

Court Sentences Former NEXIM Bank MD Orya to 490 Years for N2.4bn Fraud

The Federal Capital Territory High Court in Abuja has...

EFCC Arraigns Former Federal University Dutsinma VC Over Alleged N19.7m Bribery

The Economic and Financial Crimes Commission (EFCC) has arraigned...

PDP Inaugurates Delta Caretaker Committee Amid Large Turnout in Asaba

By Anne AzukaThe Peoples Democratic Party (PDP) on Wednesday...

Pessu Primary School Warri Wins 2025 Zenith Bank Delta Headmasters’ Cup

By Anne AzukaPessu Primary School, Warri, on Thursday emerged...

79 Kogi State Polytechnic Students Graduate with Distinctions

From Noah Ocheni, LokojaNo fewer than 79 students of...

Related Articles

Popular Categories

spot_imgspot_img