Why NNPCL Halted Selling Crude Oil to the Dangote Refinery in Naira

Re: Clarification on the Naira Crude Contract Between NNPC Limited and Dangote Refinery NNPC Limited acknowledges the recent social media reports concerning the purported unilateral termination of the crude oil sales agreement in Naira with Dangote Refinery. To provide clarity, the contract for the sale of crude oil in Naira was established as a six-month agreement, contingent upon availability, and is set to expire at the end of March 2025. Ongoing discussions are taking place to establish a new contract. As part of this arrangement, NNPC Ltd. has supplied over 48 million barrels of crude oil to Dangote Refinery since October 2024. In total, NNPC Ltd. has provided more than 84 million barrels of crude oil to the Refinery since it began operations in 2023. NNPC Limited remains dedicated to ensuring the supply of crude oil for local refining in accordance with mutually agreed terms and conditions. Olufemi Soneye Chief Corporate Communications Officer NNPC Ltd. Abuja 10th March, 2025