NNPC insists it supplied all naira-for-crude cargoes to Dangote Refinery

The Nigerian National Petroleum Company Limited (NNPC) has asserted that it fully met its obligations to supply crude oil cargoes to the Dangote Petroleum Refinery under the Federal Government’s naira-for-crude initiative. The national oil company stated that no cargoes were withheld, despite claims from a Dangote Group official that the refinery receives significantly less crude than anticipated.

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As a 7.25 per cent equity shareholder in Dangote Petroleum Refinery and Petrochemicals, NNPC Limited has a direct and genuine interest in seeing the refinery operate at full capacity. That is not in dispute.

According to the NNPC spokesman, Andy Odeh, the company has a vested interest in the refinery's optimal performance as a 7.25 percent equity shareholder. He explained that actual crude off-take is influenced by various factors, including crude availability, nomination timelines, and the refinery's operational schedule. Odeh added that NNPC has fulfilled its 2026 supply obligations and is engaged in constructive dialogue with the Dangote Petroleum Refinery and Petrochemicals (DPRP) management to address any existing gaps.

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Under the naira-denominated crude supply arrangement, NNPC Limited has allocated 100 per cent of all available naira crude cargoes to DPRP in 2026, there has been no withholding on our part. Actual off-take in any period is shaped by several variables: crude availability, nomination timelines, and the refinery’s own operational scheduling.

However, a top official from the Dangote Group, speaking anonymously, countered that the crude volumes supplied under the arrangement are insufficient to support naira-denominated fuel sales. The official revealed that the refinery is receiving only about four million barrels of crude oil monthly, a stark contrast to the approximately 13 million barrels envisioned. This shortfall has prompted the refinery to shift its focus towards exporting refined products to earn foreign exchange, a move the official justified by the influx of imported products into the market and the need to align with government policies.

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NNPC Limited has met its 2026 supply obligations to the refinery. Our engagement with DPRP management remains constructive, and where any gaps exist, we are resolving them together, as the partners we are.