NNPCL reaches agreement to sell crude to Dangote in Naira

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday confirmed that the Nigerian National Petroleum Company Limited (NNPCL) has reached an agreement to sell crude oil to Dangote Petroleum Refinery in Naira.

This was made known in its X handle “@NMDPRA_Official.”

The agency said: “At the NMDPRA headquarters in Abuja, NNPCL reached an agreement to commence crude oil sale and supply to Dangote Refinery in local currency.”

It also said the refinery was determined to supply an initial 25million litres per day of the Premium Motor Spirit (PMS) into the domestic market in September 2024.

The NMDPRA said the refinery will increase the volume to 30million litres per day in October.

“The refinery is now poised to supply an initial 25 million litres of PMS into the domestic market this September. And will subsequently increase this amount to 30 million liters daily from October 2024,” it said.