30 September 2025-Published by Cyril
The Nigerian National Petroleum Company Limited (NNPCL) has entered into a fresh two-year crude oil supply deal with the Dangote Refinery, under the Federal Government’s Crude-for-Naira initiative.
Confirming the development, NNPCL’s Chief Corporate Communications Officer, Andy Odeh, said the agreement, signed in August, ensures uninterrupted crude allocation to the 650,000-barrel-per-day refinery located in Lekki, Lagos.
- “In line with the FGN Crude for Naira initiative, NNPC Limited has continued to allocate crude to Dangote Refinery in naira for the sale of products in the domestic market. On this basis, NNPC, DPRP, and NMDPRA periodically reconcile volumes and costs in naira commensurate with the crude delivered,” Odeh explained.
Under the new deal, NNPCL allocated three crude cargoes in August, and five cargoes each for September and October, to the refinery.
The agreement was finalized after intervention by the Naira-for-Crude Technical Committee chairman.
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The development follows a temporary suspension of petrol sales in naira by Dangote Refinery, which was later reversed after federal government intervention.
Meanwhile, the timing of the deal coincides with growing tensions between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which recently directed members to cut crude and gas supply to the refinery over the mass dismissal of Nigerian workers.
The federal government’s effort to mediate between both parties ended in a deadlock on Monday, leaving uncertainty hanging over the stability of Nigeria’s oil sector.
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