The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied reports alleging that it has unilaterally stopped supplying crude oil to Dangote Refinery under the Naira crude contract.
In a statement issued on Monday, NNPC Ltd’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that the crude sale agreement in Naira was structured as a six-month contract, subject to renewal, and remains valid until March 2025.
“NNPC Limited has 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,” the statement read.
“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 establishing a new contract.”
The national oil company further disclosed that since October 2024, it has supplied over 48 million barrels of crude oil to Dangote Refinery. In total, NNPC Ltd has provided more than 84 million barrels to the facility since it began operations in 2023.
Restating its commitment to domestic refining, NNPC Ltd reaffirmed its dedication to maintaining a steady supply of crude oil under mutually agreed terms and conditions.
The clarification follows widespread speculation on social media suggesting a disruption in crude supply to Africa’s largest refinery, which is seen as a crucial component in Nigeria’s drive towards energy self-sufficiency.
