Trade Relations: NNPC To Expand Nigeria’s Market in Asia

By IAfrica
In Nigeria
Apr 12th, 2014
0 Comments
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NNPC logo2The Federal Government is planning to increase the nation’s petroleum market in Asia after losing a substantial part of the United States market.

One of such target markets is Pakistan, whose Minister of Petroleum, Shahid Abbasi, had been in Nigeria to facilitate the new trade relations.

While meeting with Mr Abbasi in Abuja, the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu revealed that India was Nigeria’s biggest market for petroleum resources.

“You are a very good market for Nigerian hydrocarbon resources, we are also happy to inform you too that your immediate neighbours, the Indian community today is one of the largest importers of our petroleum product, having lost our substantial markets to US”, Mr Yakubu said.

He also disclosed, “We look forward to having more market within the sub region, which today I’ve seen clearly that you are a potential market for our hydrocarbon resources.”

Mr Shahid Abbasi, revealed the target of the Pakistani Government for the next three years towards meeting its Liquefied Natural Gas demands and stated that they “look upon Nigeria as a potential source for that LNG”. He added that he hoped that the meeting would translate into future negotiations for the procurement of LNG from Nigeria.

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