The Nigerian National Petroleum Limited and Dangote Refinery have signed a fresh two-year crude supply deal in Naira for the plant.
The NNPC’s chief corporate communications officer, Andy Odeh, confirmed the development.
According to the firm, the deal, signed in the month of August, guarantees steady crude deliveries to the 650,000-barrel-per-day refinery in Lekki, Lagos.
“In line with the FGN Crude for Naira initiative, NNPC Limited has continued to allocate crude to Dangote refinery in naira for the sale of products in the domestic market.
“On the basis of the above, NNPC Limited, DPRP (Dangote Petroleum Refinery and Petrochemical), and NMDPRA periodically reconciles the volume and cost of product supplied in naira commensurate with the crude delivered.
“NNPC and DPRP have negotiated and in August signed a new Sales and Purchase Agreement for a tenure of two years.
“The company allocated three naira crude cargoes to the refinery in August and five cargoes for September and October,” the company stated.
This followed the intervention of the Naira for Crude Technical Committee chairman.
Dangote Refinery had suspended its petrol sales in naira before the oil company lifted the suspension upon federal government intervention.
Meanwhile, the deal comes at a time when members of the Petroleum and Natural Gas Senior Staff Association issued a directive to cut gas and crude supply from Dangote Refinery for the mass sacking of Nigerian workers.
Federal government intervention to resolve the feud between PENGASSAN and Dangote Refinery ended in deadlock on Monday.
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NNPCL announces fresh two-year crude supply in Naira deal with Dangote Refinery