Due to recent reports circulating on social media, alleging unilateral termination of the crude oil sales agreement in naira between NNPC Ltd and Dangote Refinery; the NNPC Limited Chief Corporate Communications Officer Olufemi Soneye has issued ß a press release dated 10th March, 2025 that:
• The 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.
• Discussions are ongoing towards emplacing a new contract.
• Under the arrangement, NNPC Ltd delivered over 48 million barrels of crude oil to Dangote Refinery since October 2024.
• In the aggregate, NNPC Ltd 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.
Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja
10th March, 2025″