The Nigerian National Petroleum Company (NNPC) Limited has dismissed reports suggesting that it unilaterally terminated its crude oil sales agreement with Dangote Refinery. The company issued a clarification on Monday, March 10, 2025, to counter misinformation circulating on social media regarding the contract.
In an official statement signed by Chief Corporate Communications Officer Olufemi Soneye, NNPC explained that the agreement was originally structured as a six-month contract, subject to availability, and is set to expire at the end of March 2025.
The company emphasized that discussions are already underway to establish a new contract once the current one concludes.
“To clarify, the contract for the sale of crude oil in Naira was structured as a six-month agreement, subject to availability, and expires at the end of March 2025. Discussions are currently ongoing towards emplacing a new contract,” the statement read.
NNPC further highlighted that under the existing agreement, over 48 million barrels of crude oil have been supplied to Dangote Refinery since October 2024. In total, more than 84 million barrels have been provided since the refinery commenced operations in 2023.
Reaffirming its dedication to supporting local refining, NNPC assured industry stakeholders that it remains committed to ensuring crude oil supply continues under mutually agreed terms and conditions.
