• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Saturday, July 12, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home Business

NNPC, Dangote Refinery Negotiating New Naira-For-Crude Deal

Ojimaojo Abubakar by Ojimaojo Abubakar
March 11, 2025
in Business
0
Ardova signs bulk purchase agreement with Dangote Refinery
0
SHARES
0
VIEWS
FacebookTwitterWhatsappEmailTelegram
The Nigerian National Petroleum Company (NNPC) Limited says negotiation is ongoing for a new naira-for-crude deal with Dangote Petroleum Refinery.

NNPC announced in a statement on Monday after TheCable reported earlier that the government-owned oil company had reportedly suspended the naira-for-crude deal until 2030, as it has forward-sold all its crude oil.

The discontinuation will force refiners to rely on international suppliers for crude oil, gulping huge costs in dollars and triggering an uptick in the pump price of petrol.

RelatedPosts

NNPCL Aims for Stock Exchange Listing by 2028

Naira Down to N1,565/$ in Parallel Market

NNPC Reduces Petrol Price to N910 per Litre in Abuja

However, Olufemi Soneye, the chief corporate communications officer of NNPC, said the current deal will expire at the end of March.

“NNPC Limited has noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC and Dangote Refinery,” Soneye said.

“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.”

Under the current arrangement, Soneye said NNPC has made over 48 million barrels of crude oil available to Dangote refinery since October 2024.

“In aggregate, NNPC has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023,” he said.

“NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.”

ALSO READ:  New Managing Director named for Shell as Elohor proceeds on international posting

The sale of crude oil and refined petroleum products in naira to local refineries commenced on October 1, 2024, to improve supply, save the country millions of dollars in petroleum products imports, and ultimately reduce pump prices.

Tags: Dangote refinery
Ojimaojo Abubakar

Ojimaojo Abubakar

Abubakar Ojimaojo is a graduate of Mass Communication, political and football analyst currently work at elanzanews.ng as Editor. He pride himself as skilled wordsmith with a passion for delving into contemporary political issues on both national and international scale.

Related Posts

NNPC Ltd Refutes Viral Claims of Contaminated Fuel Sold in Bottles and Jerrycans

NNPCL Aims for Stock Exchange Listing by 2028

by Nathaniel Irobi
July 12, 2025
0

Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), has announced plans for the...

Naira’s Appreciation Deepens, Gaining N12.34 Against Dollar

Naira Down to N1,565/$ in Parallel Market

by Nathaniel Irobi
July 8, 2025
0

The naira yesterday depreciated to N1,565 per dollar in the parallel market from N1,560 per dollar last weekend. Similarly, the...

NNPC Ltd Refutes Viral Claims of Contaminated Fuel Sold in Bottles and Jerrycans

NNPC Reduces Petrol Price to N910 per Litre in Abuja

by Nathaniel Irobi
July 7, 2025
0

The Nigerian National Petroleum Company (NNPC) Limited has announced a reduction in petrol prices in Abuja. According to The Cable's...

Recommended

ISWAP Terrorist Commander, Ibn Ali, Surrendered, Others Killed in Borno – DHQ

ISWAP Terrorist Commander, Ibn Ali, Surrendered, Others Killed in Borno – DHQ

28 minutes ago
Senate Yet to Obtain Court’s Ruling on Natasha’s Suspension Reversal — Adaramodu

Senate Yet to Obtain Court’s Ruling on Natasha’s Suspension Reversal — Adaramodu

6 days ago

Popular News

  • CDS’s Wife, Shehu Sani, Katung, Other’s To Storm Pastor Mutum’s Ordination, Book Launch

    CDS’s Wife, Shehu Sani, Katung, Other’s To Storm Pastor Mutum’s Ordination, Book Launch

    0 shares
    Share 0 Tweet 0
  • Bwari Council Chairmanship Aspirant, Dara, Dumps Labour Party Over Suspected Foul Play In Primaries

    0 shares
    Share 0 Tweet 0
  • Innoson, Ibeto, Apostle Alozie To Honour Archbishop Emma David At Golden Jubilee Celebration

    0 shares
    Share 0 Tweet 0
  • Kaduna Govt Unveils 345 Supervisory Councillors, Special Advisers Across 23 LGAs

    0 shares
    Share 0 Tweet 0
  • Bannon Tried to Use Iran Strike to Split the GOP Says Former Counselor to Jared Kushner, Eliyahu Okkon, Esq.

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (738)
  • Education (217)
  • Entertainment (310)
  • Health (193)
  • National (2,168)
  • News (8,149)
  • Opinion (297)
  • Politics (1,621)
  • Science (15)
  • Security (405)
  • Sports (436)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform