“Dangote Refinery Receives Fresh Crude Oil Supply from NNPCL, Reduces Petrol Price to N815 Per Litre”
Dangote Refinery Gets Fresh Crude Cargoes from NNPCL
Written by SpringsNewsNG Media Limited
March 15, 2025
The Dangote Petroleum Refinery has received additional crude oil supply from the Nigerian National Petroleum Company Limited (NNPCL) as part of the Federal Government’s efforts to boost local refining and reduce reliance on fuel imports.
It was gathered on Friday that large volumes of crude oil shipments were delivered to the $20 billion Lekki-based plant, leading to a reduction in the price of petrol at the refinery’s loading gantry from N825 per litre to N815 per litre.
A top source at NNPCL confirmed that all crude cargoes have been released and successfully sailed to the refinery. However, the official, who spoke on condition of anonymity, revealed that the delivery was delayed due to uncertainties surrounding the naira-for-crude deal.
“This move is aimed at supporting local refineries and increasing domestic production capacity,” the source said.
The fresh crude supply comes after a meeting of the Technical Sub-Committee on the Naira-for-Crude Policy held in Abuja on Thursday. During the meeting, NNPCL presented a crude delivery report, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) provided updates on local production, including operations at the Dangote Refinery, Warri Refinery, and Port Harcourt Refinery.
Officials from Dangote Refinery and NNPCL also gave reports on local refining operations to ensure a steady supply of crude for domestic use.
Earlier, SpringsNewsNG reported that NNPCL initiated fresh negotiations with the Dangote Petroleum Refinery over the renewal of the naira-for-crude agreement, as the initial deal is set to expire on March 31, 2025.
A major oil marketer attributed the reduction in petrol prices to intense competition in the downstream sector.
“Prices of petrol are falling due to increased local refining capacity and the naira-for-crude initiative. However, the only way to sustain this is by ensuring continuous competition and preventing market domination by a single entity,” the marketer stated.
He further urged NMDPRA to maintain strict monitoring of fuel quality and balance between local production and imports to keep prices low.
Industry experts believe that boosting local refining will ease inflation and stabilize the economy while reducing Nigeria’s dependence on imported petroleum products.
