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.