By Lateef Odegbenle
NNPC Limited has debunked reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC Ltd. and Dangote Refinery.
A statement by the Company’s Chief Communication Officer, Olufemi Soneye 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.
Soneye added that discussions are ongoing towards emplacing a new contract.
According to him, under the new arrangement, NNPC Ltd. has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024.
He added that on the aggregate, NNPC Ltd. has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023.
The company added it remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.
