‘I’LL TURN OFF THE MIC’ — REMI TINUBU REINS IN ADELEKE’S SINGING AT OONI’S ANNIVERSARY. (VIDEO/PHOTO).
The Nigerian National Petroleum Company Limited (NNPCL) has clarified reports circulating on social media about the alleged termination of its crude oil sales agreement in Naira with Dangote Refinery. According to Olufemi Soneye, NNPCL's Chief Corporate Communications Officer, the contract was a six-month agreement set to expire at the end of March 2025, with discussions ongoing for a new contract.
Under this arrangement, NNPCL has supplied over 48 million barrels of crude oil to Dangote Refinery since October 2024, with a total of over 84 million barrels supplied since the refinery's operations began in 2023.
NNPCL remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions. The Federal Executive Council (FEC) had directed NNPCL to sell crude oil to Dangote Refinery and other local refineries in Naira, aiming to reduce the strain on Nigeria's foreign exchange and stabilize fuel prices.
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