NNPC failing to deliver agreed crude oil under crude-for-naira deal — Dangote refinery 

The Lagos-based mega Dangote refinery has accused the Nigerian National Petroleum Corporation (NNPC) of failing to meet its crude oil supply obligations under the naira-for-crude agreement.

Edwin Devakumar, the Vice President of the Dangote Group, disclosed this in a statement reported by Reuters.

Devakumar explained that the national oil company had committed to supplying the refinery with a minimum of 385,000 barrels per day (bpd) under the crude-for-naira deal.

However, he alleged that the NNPC is falling short of this commitment.

According to Reuters, Devakumar characterized the volume of crude currently supplied by NNPC Limited as “peanut,” though he did not specify the exact amount.

“We need 650,000 barrels per day, and NNPC Ltd agreed to supply a minimum of 385,000 bpd, but they are not even delivering that,” Devakumar stated.

In an earlier report, ThePressNG observed that the $20 billion Dangote Refinery has resumed importing crude oil from the United States after a three-month pause.

ThePressNG earlier reported that on July 29, the Federal Executive Council approved President Tinubu’s proposal to end the sale of crude oil by NNPC to local refineries in foreign currency.

The Minister of Finance, Wale Edun, later announced that the transaction would officially commence on October 1, 2024.