Naira-for-crude deal: NNPC reneging on crude supply agreement – Dangote Refinery

• He noted that the NNPCL hasn’t met the target to deliver a minimum of 385,000 bpd since the commencement of the programme in October

Dangote Refinery has disclosed that the Nigerian government has not kept its end of the bargain in the agreement to supply oil to the domestic refinery under the Naira-for-crude deal.

Vice President of Dangote Industries Limited, Devakumar Edwin, made the disclosure in an interview with Reuters.

Edwin stated the amount of crude received from the Nigerian National Petroleum Company Limited is paltry compared to the volume needed to sustain bolster the production of refined products.

He noted that the NNPCL hasn’t met the target to deliver a minimum of 385,000 bpd since the commencement of the programme in October.

“We need 650,000 barrels per day. NNPCL agreed to give a minimum of 385,000 bpd, but they are not even delivering that,” the Dangote official said.

Recall that the Nigerian government and the Dangote Refinery reached an agreement on a Naira-for-crude deal.

The government had announced that it had started to implement the initiative in October 2024.

However, a report emerged that Dangote Refinery resumed crude supply from the United States to ramp up production in the $20 billion-worth firm