30 April 2025
22:14

TOSCAD NEWS NIGERIA

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NNPC Refutes Claims of Unilateral Contract Termination with Dangote Refinery

Wendy R.

The NNPC Limited has noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC and Dangote Refinery.

The Corporate Communication Officer Chief Olufemi Soneye made the call in Abuja.

Chief Olufemi said the contract for the sale of crude oil in Naira was structured as a six-month agreement, subject to availability, and expires at the end of March
2025.

According to him in a statement, Discussions are currently ongoing towards emplacing a new contract.

“Under this arrangement, NNPC has made over 48 million barrels of crude
oil available to Dangote Refinery since October 2024. In aggregate, 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”. he added

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