NNPC Denies Termination of Naira Crude Contract with Dangote Refinery

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has dismissed reports circulating on social media that it unilaterally terminated the crude oil sales agreement in Naira with Dangote Refinery.

In a statement issued by its Chief Corporate Communications Officer, Olufemi Soneye, NNPC Ltd. clarified that the contract was structured as a six-month agreement, subject to availability, and is set to expire at the end of March 2025. The company also confirmed that discussions are ongoing to establish a new contract.

Since October 2024, NNPC Ltd. has supplied over 48 million barrels of crude oil to Dangote Refinery under this arrangement. In total, more than 84 million barrels have been made available to the refinery since it began operations in 2023.

Reaffirming its commitment to local refining, NNPC Ltd. assured that crude oil supply will continue under mutually agreed terms and conditions.

This clarification comes amid growing public interest in the supply of crude to domestic refineries as part of Nigeria’s efforts to enhance local refining capacity and reduce dependence on imported petroleum products.