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NNPCL refutes ending Naira-for-crude deal with Dangote Refinery

Summary by Daily Post Nigeria

The Nigerian National Petroleum Company Limited, NNPCL, has denied terminating its naira-for-crude sale deal with Dangote Refinery. The spokesperson for NNPCL, Olufemi Soneye, made this clarification in a statement on Monday. This follows reports claiming that NNPCL had halted its crude purchase agreement with Dangote Refinery. Reacting, Soneye clarified that the deal, which commenced around October, was structured as a six-month agreement, subj…

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Pulse Nigeria

NNPCL urged to expedite Kaduna Refinery revival amid fuel price cuts

A northern energy advocacy group, the Arewa Youths Initiative For Energy Reforms (AYIFER), has applauded Dangote Refinery for reducing fuel prices during Ramadan, describing it as a major relief for Nigerians facing high living costs. In a statement signed by National Coordinator Alhaji Bashir Al’Amin and General Secretary Engr. Gideon Yakubu, the group praised the refinery’s gesture, likening it to an act of service to both God and humanity. “T…

5 hours ago·Nigeria

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Daily Post Nigeria

NNPCL refutes ending Naira-for-crude deal with Dangote Refinery

2 days ago·Nigeria

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Bloomberg

Nigeria in Talks With Dangote to Extend Oil Sales Contract

Nigeria is in talks with the Dangote Refinery to extend a contract to sell crude in local currency to the plant, the biggest in Africa.

2 days ago·United States

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RainSMediaRadio

Marketers Project N800/Litre as Imported Petrol's Cost Drops

The landing cost of petrol in Nigeria has decreased from approximately N1,100 per litre to between N978 and N1,000 per litre. This reduction has prompted the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) to announce plans to import petrol and sell it at prices below those offered by the Dangote Petroleum Refinery and the Nigerian National Petroleum Company Limited (NNPCL). Dr. Joseph Obele, PETROAN's Publicity Secretary, stated…

7 hours ago

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News Central - Latest Africa News

Nigerian Fuel Marketers Oppose Price Cut, Support Imports

The Nigerian Petroleum Products Retail Outlet Owners Association’s oil marketers have denounced the ongoing fuel price cuts, claiming that they are still counting losses. PETROAN stated that a regulation that would require price changes to be made only after six months is necessary, even in the face of deregulation. Joseph Obele, PETROAN Publicity Secretary, also reversed course and stated that imports should be promoted to abolish monopolies. T…

16 hours ago

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The Whistler Nigeria

How NNPC Ltd Guaranteed Supply, Stabilized Petrol Price With Naira For Crude Oil Deal

To say that the Nigerian National Petroleum Company Ltd has managed to take control of petrol prices by shifting the currency dynamics of crude oil transactions would be stating the obvious. In October 2024, the Federal Executive Council approved that 450,000 barrels intended for domestic consumption be offered in Naira to Nigerian refineries, with the Dangote Refinery acting as a pilot project. Under the deal, the NNPC from October 1, 2024, com…

20 hours ago

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