NNPC Limited has thrown more light in view to clarify the establishment position on recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC Ltd. and Dangote Refinery.

According to NNPC Limited in its recent press release, 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 corporation further clarified that under the previous elapsed arrangement with Dagote Refinery, NNPC Ltd. has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024. In aggregate, NNPC Ltd. has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023.

NNPC Limited reiterated the corporation unalloyed commitment to supplying crude oil for local refining based on mutually agreed terms and conditions.