“NNPCL Ends Naira for Crude Programme: Impact on Dangote Refinery and Oil Supply”
By SpringsNewsNG Media Limited
March 11, 2025
The Nigerian National Petroleum Company Limited (NNPCLhttp://The Nigerian National Petroleum Company Limited (NNPCL) has officially ended its crude oil supply to Dangote Refinery and other local refineries under the Federal Government’s Naira for Crude programme.
However, the company assured that it remains committed to supplying crude oil to the 650,000 barrels per day (bpd) Dangote Refinery, emphasizing that discussions are ongoing to ensure continued supply under a new agreement.
Contract Expiration and Future Plans
According to NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, the Naira-denominated crude oil sale was a six-month agreement that commenced in October 2024 and is set to expire in March 2025. He clarified that the deal was always intended to be temporary and subject to availability.
“In total, NNPC has supplied over 84 million barrels of crude oil to Dangote Refinery since it http://NNPC has supplied over 84 million barrels of crude oil to Dangote Refinery since itbegan operations in 2023,” Soneye stated. “Of this, over 48 million barrels were supplied under the Naira for Crude programme.”
NNPCL’s Commitment to Local Refining
While the Naira-based contract is ending, NNPCL reaffirmed its commitment to supplying crude to Dangote Refinery and other local refiners under mutually agreed terms. The company assured stakeholders that it remains focused on ensuring stable domestic crude oil supply to support local refining and reduce reliance on imported petroleum products.
As discussions continue, industry analysts will be watching closely to see the terms of the new agreement and its impact on Nigeria’s refining sector.
