NNPC Clarifies Naira Crude Contract With Dangote Refinery.
The Nigerian National Petroleum Company (NNPC) Limited has addressed recent reports circulating on social media regarding the alleged unilateral termination of its crude oil sales agreement in Naira with Dangote Refinery.
In a statement released on Monday, NNPC clarified that the contract was structured as a six-month agreement, subject to crude oil availability, and is set to expire at the end of March 2025. The company confirmed that discussions are currently ongoing to establish a new contract.
Since October 2024, NNPC has supplied Dangote Refinery with over 48 million barrels of crude oil under this arrangement. In total, the refinery has received over 84 million barrels of crude oil since it began operations in 2023.
NNPC reaffirmed its commitment to supporting local refining efforts by ensuring a steady supply of crude oil based on mutually agreed terms and conditions.
The statement, signed by the Chief Corporate Communications Officer, Olufemi Soneye, emphasised that the company remains dedicated to fostering collaboration within Nigeria’s oil and gas sector to enhance domestic refining capacity.
