The Federal Government on Tuesday signed a Memorandum of Understanding (MoU) with the Nigerien Government on the establishment of a crude oil refinery to be located in Katsina state.
President Muhammadu Buhari and his Nigerien counterpart, Mahamadou Issoufou, witnessed the signing of the MoU by ministers of Petroleum resources of both countries at the Presidential Villa in Abuja.
Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu said the refinery would be funded by the private sector and that it would solely rely on the Nigerien crude.
President Buhari who inaugurated the steering and technical committees for the refinery said the initiative will not only provide a reliable market for the stranded crude oil from the Niger Republic but will also provide petroleum products for Nigeria, as both countries aggressively pursue their aspiration for petroleum product self-sufficiency.
The occasion was witnessed by the representatives of the Senate President, Bukola Saraki and the Speaker of the House of Representatives, Yakubu Dogara. Katsina state governor, Aminu Masari also attended the ceremony.