Nigeria strikes deal to supply 10% of oil export to India

  • Jul 18, 2019
  • 24 Tanzania

The Nigerian National Petroleum Corporation (NNPC) announced Thursday to be supplying one-tenth of its oil export to India, the second-most populous country in the world after China and undergoing energy crisis.

According to NNPC Group Managing Director Mele Kyari, Nigeria will be supporting India to help resolve the growing energy crisis.

NNPC spokesperson Ndu Ughamadu said the announcement was made during the visit of Indian High Commissioner to Nigeria, Abhay Thakur, to the headquarters of the corporation in Abuja.

He added the MoU signed in energy security would strengthen up the bilateral relations between India and Nigeria.

Kyari said India is a good market in the world and the promised volume would be ensured for the collective interest of both Nigeria and India.

Myari added, “We are ready to have robust engagement with the Indian trade team to Nigeria, to provide a win-win energy scenario. Every trade opportunity that is available will be fully explored.”

There are yet lots of untapped investment opportunities in the Liquefied Petroleum Gas sector in Nigeria and the willingness of NNPC is to improve related infrastructure.

The High Commissioner meanwhile thanked the management of corporation for the deal and demanded increased allocation in the supply.

He said, “India is prepared to offer Nigeria, particularly the NNPC, a credit line mechanism to help her in the areas of refinery maintenance, construction, security, surveillance and anything possible.”