Nicaragua Requests for Supply of Nigerian Oil

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SWITZERLAND, NOVEMBER 08 – At a period when the demand for Nigeria’s oil from the United States is dwindling, other countries, including Nicaragua have expressed interest in receiving supply.

On Tuesday, Vice President Yemi Osinbajo received on behalf of President Buhari, a special message from the President of Nicaragua, Daniel Ortega, delivered by the Nicaraguan Minister of Foreign Affairs, Denis Moncada Colindres.

In his remarks, Minister Colindres requested for both countries to collaborate on the supply of Nigeria’s crude oil to Nicaragua, while also seeking the support of Nigeria for Nicaragua in its request for an observer status at the African Union (AU).

“We have already presented a draft cooperation agreement between Nigeria and Nicaragua,” Minister Colindres said.

Noting the efforts of the Nicaraguan President on the country’s economy, Osinbajo stated that Nigeria regards its relations with Nicaragua as valuable, adding that both countries should explore all areas of cooperation for improved relations.

His words:

”We (Nigeria) are in the process of diversifying our economy, from dependence on oil. Now, we are diversifying into different fields; agriculture, agri-business, mining, solid minerals, manufacturing, technology and innovation.

“We are also interested in expanding our own reach in terms of trade and exports, especially the export of processed agricultural products.

“We are also diversifying our power sources, and developing our capacity in renewable energy. Recently, we commissioned (in Kano State) the largest solar hybrid power plant in Africa.”

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