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Nigeria's National Oil Company is in Talks With Dangote Refinery on New Naira-for-Crude Deal

© AP Photo / Sunday AlambaWalkers walk past newly inaugurated Dangote fertilizer plant in Lagos, Nigeria, Tuesday, March 22, 2022.
Walkers walk past newly inaugurated Dangote fertilizer plant in Lagos, Nigeria, Tuesday, March 22, 2022. - Sputnik Africa, 1920, 11.03.2025
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Since October, the Nigerian national oil company has supplied over 48 million barrels of crude oil to the Dangote refinery, totaling more than 84 million barrels since the refinery began operations in 2023, according to a statement.
The Nigerian National Petroleum Company (NNPC) said that it is currently in talks with the Dangote refinery on a new naira-for-crude deal.

"Discussions are currently ongoing towards emplacing a new contract," the NNPC said in a statement in response to rumors of alleged termination of its naira-based crude oil sales agreement with the Dangote refinery.

The previous six-month contract is set to expire in March 2025, the NNPC noted.
"NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions," read the statement.
Oil installations at the Dangote refinery during the opening ceremony in Lagos, Nigeria, Monday, May 22, 2023. Nigerian President Muhammadu Buhari on Monday opened the oil refinery, with hopes it would help the energy-rich country achieve self-sufficiency and become a net exporter of refined petroleum products.  - Sputnik Africa, 1920, 16.01.2025
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