The Nigerian National Petroleum Company (NNPC) Limited has signed a two-year agreement with the Dangote Petroleum Refinery for the supply of crude oil to the refinery. The deal, which was sealed in August, is to ensure steady feedstock to the 650,000-barrel-per-day refinery based in Lagos. This comes amid efforts to maintain crude supply in naira …
NNPC, Dangote Sign two-year Crude Supply Deal
The Nigerian National Petroleum Company (NNPC) Limited has signed a two-year agreement with the Dangote Petroleum Refinery for the supply of crude oil to the refinery.
The deal, which was sealed in August, is to ensure steady feedstock to the 650,000-barrel-per-day refinery based in Lagos.
This comes amid efforts to maintain crude supply in naira to the refinery to boost domestic fuel distribution and energy security generally.
Pinnacle Daily recalls that the Dangote Refinery recently announced suspension of sales of petroleum products in naira, citing exhaustion of naira-crude allocations. However, it subsequently announced resumption of sales of petrol in naira following the intervention of the Federal Government the Naira-for-Crude Technical Committee.
About 82 million barrels of crude oil were allocated to the Dangote Refinery between October 2024 and September 2025, according to industry data. 60 percent of this volume, (49.3 million barrels), was provided in naira as part of the crude-for-naira programme.
The national oil company continues to allocate crude in naira to the refinery, according to Andy Odeh, Chief Corporate Communications Officer at NNPC.
Odeh clarified that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Dangote Refinery, and NNPC periodically reconcile the amount and value of crude provided in naira.
READ ALSO: Naira-for-crude Deal Will Continue, FG Assures
He revealed that in August, NNPC allotted three naira crude cargoes, and in September and October of 2025, it assigned five cargoes each. He said September allocations are still in progress, with two vessels are completing pre-loading procedures at terminals.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.
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