The Nigerian National Petroleum Company Limited (NNPC Ltd.) has addressed recent social media reports suggesting the unilateral termination of the crude oil sales agreement in Naira between NNPC Ltd. and Dangote Refinery, clarifying that the claims are unfounded and misleading.
In an official statement released by the Chief Corporate Communications Officer, Olufemi Soneye, NNPC Ltd. emphasized that the crude oil sales agreement in Naira was established as a six-month contract, subject to availability, and is scheduled to expire at the end of March 2025. Contrary to circulating reports, the company revealed that discussions are already ongoing to establish a new contract beyond the expiration date.
Since the commencement of the agreement in October 2024, NNPC Ltd. has supplied over 48 million barrels of crude oil to Dangote Refinery. In total, the company has made over 84 million barrels available since the refinery began operations in 2023. This underscores the corporation’s unwavering commitment to supporting local refining and boosting Nigeria’s self-sufficiency in petroleum products.
NNPC Ltd. reiterated its dedication to the consistent supply of crude oil to local refineries under mutually agreed terms and conditions, as part of its drive to strengthen the nation’s energy security.
The company urged the public to disregard speculative and inaccurate reports circulating on social media and remain confident in NNPC Ltd.’s commitment to transparent and collaborative partnerships in the oil and gas sector.
