Success Nwogu and Regina Otokpa The Nigerian National Petroleum Company Limited (NNPC Ltd) said, in aggregate, it had made over 84 million barrels of crude oil available to Dangote Refinery since the refinery’s commencement of operations in 2023.
It specified that it had made over 84 million barrels of crude oil available to the refinery under the contract for the sale of crude oil in Naira since October 2024.
These were contained in a statement yesterday by Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye.
He added that NNPC Ltd had noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in naira between NNPC Ltd and Dangote Refinery.
Soneye said: “To clarify, the contract for the sale of crude oil in naira was structured as a six-month agreement, subject to availability, and expires at the end of March 2025.
Discussions are currently ongoing towards emplacing a new contract. “Under this arrangement, NNPC has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024.
In aggregate, NNPC has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023.
“NNPC Ltd remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.” Reports had stated that NNPC Ltd had with immediate effect suspended the sale of crude oil in naira.
The naira-for-crude arrangement, initiated by the federal government was introduced on October 2024.
