By Rafiu Ajakaye

LAGOS, Nigeria

Presidents of Niger and Nigeria inked a deal in capital Abuja Tuesday to export Niamey crude oil and build refineries in Nigeria -- a key step they agreed would deepen economic ties between the two sides.

“Nigeria sees this cooperation on crude oil export from the Republic of Niger and construction of refinery facilities in Katsina State as a ‘win – win’ for both nations,” a statement from President Muhammadu Buhari’s office quoted him as saying at the signing ceremony.

“The initiative will not only provide a reliable market for the stranded crude from the Niger Republic but will also provide petroleum products for Nigeria, as it aggressively pursues its aspiration on petroleum product self-sufficiency.”

Buhari said the project would be private sector-driven, with several investors already buying into the initiative.

“Further to this, a senior level joint technical team is carefully selected based on competence to develop the implementation roadmap and strategy on both the refinery and pipeline projects.

“This team will be led by Nigeria’s Engineer Rabiu Suleiman supported by the DG [Director General] Hydrocarbon of Niger Republic,” the statement added.

“It is my expectation that by December 2018, this group will come up with a detailed roadmap and guideline leading to actual execution of the projects.

“The detailed roadmap should cover the following: bankable feasibility studies for both the refinery and pipeline projects; optimal project site, pipeline routes and details; security plan; selected consortia of investors for both the refinery and pipeline projects.”