The Nigerian National Petroleum Company (NNPC) Limited has signed a new two-year crude supply agreement with Dangote Refinery to guarantee fuel security and sustain crude-for-naira allocations until 2027.
The Nigerian National Petroleum Company (NNPC) Limited has signed a new two-year crude supply deal with the Dangote Petroleum Refinery to secure steady feedstock for the 650,000-barrel-per-day plant in Lekki, Lagos. The agreement, sealed in August, extends supply until 2027 under the Federal Government’s crude-for-naira initiative aimed at stabilising domestic fuel supply.
According to industry data, 82 million barrels of crude were allocated to the refinery between October 2024 and September 2025, with 60 percent — 49.3 million barrels — supplied in naira. The move follows tensions after Dangote Refinery briefly suspended naira-based petrol sales citing exhausted allocations, which were later restored after federal intervention.
Andy Odeh, NNPC’s Chief Corporate Communications Officer, confirmed that “the state-owned energy company and the refinery have negotiated and signed a new sales and purchase agreement that will run until 2027.” He added that NNPC, the refinery, and NMDPRA regularly reconcile crude volumes and values under the naira scheme.
Dangote’s media team has not yet commented.