The Nigerian National Petroleum Company Limited has clarified its Naira crude contract with Dangote Refinery and Petrochemical Limited.
The Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, clarified the contract on Monday in a statement he issued.
Soneye said the contract was structured as a six-month agreement subject to availability, and that it expires at the end of March 2025.
He said discussions were ongoing towards emplacing a new contract.
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The spokesperson explained that the clarification became necessary because of the recent reports on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC and Dangote Refinery.
Soneye said: “Under this arrangement, NNPC has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024.
“In aggregate, the NNPC has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023.
“NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.”
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