BREAKING: NNPCL Denies Ending Naira-for-Crude Deal with Dangote Refinery

 BREAKING: NNPCL Denies Ending Naira-for-Crude Deal with Dangote Refinery

 BREAKING: NNPCL Denies Ending Naira-for-Crude Deal with Dangote Refinery - Business,Companies,economy

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The Nigerian National Petroleum Company Limited (NNPCL) has dismissed claims that it has ended its Naira-for-Crude agreement with Dangote Refinery. In a statement issued on Monday, NNPCL clarified that the partnership remains intact, with discussions underway for a renewal of the contract.

NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, confirmed that since the refinery’s operations began in 2023, a total of 84 million barrels of crude oil have been supplied, with 48 million barrels delivered since October 2024. The current six-month contract, which expires in March 2025, is still active.

Soneye emphasized that both parties are engaged in talks to establish a new agreement beyond the current deal.

What do you think about the Naira-for-Crude deal? Do you believe it will be renewed, or is this the beginning of a new direction for NNPCL? Drop your thoughts in the comments!