The Nigerian National Petroleum Company Limited (NNPC Limited) has clarified the Naira crude contract with Dangote Refinery saying it has made over 84 million barrels of crude oil available to the Refinery since the alleged unilateral termination of the crude oil sales commencement of operations in 2023.
A statement by the Chief Corporate Communications Officer of NNPC Limited, Oluseye Soneye on Monday night explained that the contract for the sale of crude oil in Naira was a six-month agreement, which is subject to availability, that the agreement is set to expire at the end of March 2025.
He however said that discussions are currently underway to establish a new contract.
The statement reads in parts; “Since October 2024, NNPC has made over 48 million barrels of crude oil available to Dangote Refinery under this arrangement. In total, NNPC has supplied over 84 million barrels of crude oil to the refinery since its commencement of operations in 2023”
"NNPC Limited has noted recent reports circulating on social media on agreement in Naira between NNPC and Dangote Refinery.
"Under this arrangement, NNPC has made over 48 million barrels of crude oil available to the Refinery since regarding the alleged unilateral termination of the crude oil sales commencement of operations in 2023.
"NNPC Limited remains committed to supplying crude oil for local refining oil available to Dangote Refinery since October 2024. In aggregate, NNPC six-month agreement, subject to availability, and expires at the end of March.
"Discussions are currently ongoing towards replacing a new contract based on mutually agreed terms and conditions."