Connect with us


FG Signs Fuel Transportation, Storage Deal With Niger Republic



The Federal Government, yesterday, signed a Memorandum of Understanding, MoU, with the Republic of Niger for the transportation and storage of petroleum products.

In a statement in Abuja, Group General Manager/Special Adviser on Media to the Minister of State for Petroleum Resources, Garba Deen Muhammad, said the MoU was reached following bilateral agreements between President Muhammadu Buhari and President Mahamadou Issoufou of Niger.

According to Muhammad, talks had been on-going between the two countries for over four months – through the Nigerian National Petroleum Corporation and Niger Republic’s National Oil Company, Societe Nigerienne De Petrole (SONIDEP), on petroleum products transportation and storage.

He explained that Niger Republics Soraz Refinery in Zinder, some 260 kilometres from the Nigerian border, has an installed refining capacity of 20,000 barrels per day, the country’s total domestic requirement is about 5,000 barrels per day, BPD, thus leaving a huge surplus of about 15,000 bpd, mostly for export.

Muhammad stated that the MoU was signed by the GMD NNPC, Mallam Mele Kyari and the Director-General of SONIDEP, Mr. Alio Toune under the supervision of the two countries’ Ministers of State for Petroleum, Çhief Timipre Sylva and Mr Foumakoye Gado, respectively with the Secretary-General of the African Petroleum Producers Organisation (APPO), Dr Omar Farouk Ibrahim in attendance.

Speaking shortly after the MoU signing, Sylva expressed delight over the development, describing it as another huge step in developing trade relations between both countries.

He said: “This is a major step forward. The Niger Republic has some excess products which need to be evacuated. Nigeria has the market for these products. Therefore, this is going to be a win-win relationship for both countries. My hope is that this is going to be the beginning of deepening trade relations between Niger Republic and Nigeria.”

Also commenting on the development, Secretary-General of African Petroleum Producers Organisation (APPO), Dr Omar Farouk Ibrahim said he could not be happier with what he witnessed in terms of co-operation and collaboration between the two APPO member countries in the area of hydrocarbons.

He said: “I want to commend the Federal Republic of Nigeria and the Republic of Niger and their leadership for this milestone.”

In his remarks, Group Managing Director of the NNPC, Mallam Mele Kyari, said the two countries have had long engagements in the last four to five months with a view to restoring the importation of petroleum products (excess production) from Niger into Nigeria.

He said: “With this development, we hope to have a long-lasting and sustainable commercial framework to have a pipeline from the Soraz Refinery in Zinder (Niger) into the most proximate Nigerian city so that we can develop a depot.

“We are happy that we have reached that conclusion and our two ministers have endorsed this framework. We are also working on detailed MoU between our two companies so that we can continue the execution process immediately.”

The NNPC helmsman further noted that being the most experienced of the two oil companies, the NNPC would support SONIDEP in terms of training and capacity building.

Source:- Vanguard

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Shatta Wale Discloses The Type Of Girls That Turn Him On These Days



The controversial dancehall artist took to his snap chat to disclose the type of girls he will like to vibe with these days. According to the single man, he is moved by slim ladies with a fine backside. He says these ladies turn him on. “Nowadays slim girls with fine ass…It turns me on brutal” he wrote.

READ ALSO: MEET The Handsome Actor Van Vicker, His Wife And 3 Adorable Kids


Source link

Continue Reading


Hope PSBank delivers digital banking services to Customers



The management of Hope PSBank-a subsidiary of Unified Payment Services Limited and Nigeria’s premier digital-first bank has assured customers-unbanked, underserved and banked of its readiness to deliver seamless digital banking experience to them as part of efforts targeted at promoting and driving financial inclusion in the Nigerian banking ecosystem.

The assurance came during the launch of the company’s brand identity on Tuesday,  in Lagos following the approval of licence as a Payment Service Bank by the Central Bank of Nigeria (CBN) in August 2020.

Speaking at the launch, Lagos State Governor who was represented by the Commisioner of Finance, Rabiu Olowo commended  promoters of Hope PSBank for making dream of a digital bank a reality, stating that the state government is committed to creating enabling environment for such innovation to thrive.

Also speaking at the event the Minister of  Communications and Digital Economy, who was represented by Director General, National Information Technology Development Agency(NITDA), Mr. Kashifu Inuwa Abdullahi, described the launch of Hope PSBank  as  a game-changer in the banking sector that would not only reduce operational cost drastically but also bring about transformation in the banking system

In his opening remarks at the occasion, the Chairman, Hope PSBank, Alhaji Shehu Abubakar described the launch of Hope PSBank as one that would not only revolutionalize the banking sector but help a great deal in shaping and advancing the future for financial services generally in Nigeria.

Abubakar noted that it was heartwarming that a new bank like Hope PSBank was stepping into the fold to give banking access to millions of Nigerians including those that are unbanked.

He explained that the setting up of the bank was largely driven by the need to ensure that a vast majority of Nigerians have access to financial services.

The bank Chairman noted that its logo represents the optimism and dependability which the brand espouses. “It is not just semantics that the name of our bank is ‘Hope’, rather this is symbolic as we bring the message of hope to millions of Nigerians that are unbanked or underserved,”, Abubakar explained.

He revealed that the payment service bank offers a unique and unparalleled experience for customers as the wallets/accounts are opened end to end without any human intervention.

Also speaking, the Managing Director, Hope PSBank, Mr. Ayotunde Kuponiyi expressed the company’s aspiration to give hope to Nigerians. He stated that the bank is ready to redefine financial and payment services by driving inclusion through the leverage of digital technologies.

Kuponiyi added that the setting up of the bank was in line with the objective of the Central Bank of Nigeria to enhance financial inclusion.

“When the inclusion rate in an economy is high, the citizens of that economy will have access to credit/finance, will be able to save, have access to insurance, grow cottage industries, employ more staff, unemployment rate is reduced, the employment citizens are able to pay tax, government will have more revenue to provide infrastructure and this will and generally improve the standard of living of the citizens,” he said.

He explained further that beyond financial inclusiveness which the bank hopes to achieve, it would serve as a platform to empower the people with many becoming agents thus leading to job creation and alleviation of poverty.

“We support Medium Small and Medium Enterprise(MSME) and Small and Medium Enterprise(SME) with our Hope Market Place by giving them an “online real estate” to display their shops thus giving them more visibility and exposing them to more consumers,” Kuponiyi said.

The Nation

Continue Reading

Entertainment News

“I Kissed the Feet of a King” – Ibrahim Suleiman Can’t Get Enough of His Baby Boy



Don’t babies just know how to bring rays of sunshine wherever they go?

Nollywood stars Ihuoma Linda Ejiofor and Ibrahim Suleiman welcomed their baby some months ago and the family is still basking in the euphoria of their new addition to the family.

Ibrahim posted this cute photo of himself and his son, and here’s what he wrote,

Today, I kissed the feet of a king
May your feet take you to places your father and his fathers before him only dreamt of.
May these feet only heed the promptings of the Lord.
May every land you set your feet on rise up to greet you. May you walk in the safety of His word.

Your Mommy and I are honoured to be chosen to raise you, King Keon.
We can do this, because we can do all things through Christ, who is our strength.

Photo Credit: @@ibrahimsuleimanofficial

Source link

Continue Reading

Popular this week