By Ayomide Otitoju
The Nigerian National Petroleum Company (NNPC) Limited has dismissed reports suggesting that it unilaterally terminated its crude oil supply agreement with Dangote Refinery.
In a statement issued by its Chief Corporate Communications Officer, Olufemi Soneye, NNPC clarified that the crude supply contract was structured as a six-month agreement, subject to availability. The contract, which began in October 2024, remains active and is scheduled to expire at the end of March 2025.
The company assured stakeholders that negotiations are ongoing for a new contract to govern future crude oil supply to the refinery. NNPC described social media claims of an abrupt supply halt as misleading and unfounded.
Soneye disclosed that since the commencement of the Naira-based arrangement in October 2024, NNPC has supplied over 48 million barrels of crude to Dangote Refinery. In total, more than 84 million barrels have been delivered since the refinery began operations in 2023.
Reaffirming its commitment to local refining, NNPC emphasized its dedication to ensuring a stable crude oil supply to domestic refineries under mutually agreed terms. The company reiterated its strategic objective of bolstering local refining capacity to reduce Nigeria’s reliance on imported petroleum products, enhance energy security, and stabilize the economy.
NNPC urged the public to rely on official statements for accurate information, assuring that discussions with Dangote Refinery are progressing constructively. Industry observers will be watching closely for the outcome of the new agreement, which could significantly impact Nigeria’s refining sector and fuel supply dynamics in the coming months.
