NNPCL Explains Naira-Crude-Oil Contract With Dangote Refinery

The Nigerian National Petroleum Company Limited (NNPCL) has set the record straight regarding social media reports suggesting a unilateral termination of its crude oil supply agreement with Dangote Refinery.

In a statement issued by its Chief Corporate Communication Officer, Olufemi Soneye, NNPCL clarified that the agreement was always a six-month contract, subject to availability, and is due to expire at the end of March 2025. Talks are already underway to establish a new contract.

Since October 2024, NNPCL has supplied over 48 million barrels of crude oil to the refinery, bringing the total volume delivered since its 2023 operational launch to more than 84 million barrels.

Reaffirming its commitment to local refining, NNPCL assured that crude oil supply would continue under terms that are mutually agreed upon, dismissing claims of an abrupt contract termination.