Nigeria to Raise Crude Oil Sales to Ghana By 50%

Nigeria’s Minister of State for Petroleum, Mr Odein Ajumogobia, Wednesday said that Nigeria would increase its crude oil sales to Ghana by 50 percent.

Ajumogobia told journalists in Abuja that the decision to raise the oil sales to Ghana was as a result of the appeal by Ghanaian President John Kufuor, who visited Nigerian President Umaru Yar’adua on Wednesday in Abuja.

He said that oil exports to Ghana would now be increased from the current levels of 40,000 barrels per day to 60,000 barrels per day.

“We have for many years made allocations to Republic of Ghana in terms of crude allocations. They just wanted slight increase in the amount of crude allocation and the president has graciously agreed to that. The last contract we signed with them was for 40,000 barrels per day and they have asked for additional 20,000 barrels per day and that is what has been approved,’’ Ajumogobia said.

He said that there was no concession in terms of price, but that some concessions in terms of supplier credit were granted.

“Generally we give 30 days, but we are giving them 60 days,’’ the Nigerian minister said.

Earlier, President Kufuor, who commended Yar’adua for the gesture said: “Nigeria has been supporting me for the past seven years; this confirms that Nigeria will stand by Ghana in good times and in bad times.’’

Responding, Yar’adua said: ” Ghana is our brother; we have the same aspirations, the same interests and we move together.”

Source African Press Agency

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