NNPC hasn’t met crude supply target under Naira-for-crude deal – Dangote Refinery

Dangote Refinery has said the Nigerian government has not met its target to supply oil to the domestic refinery under the Naira-for-crude deal.

Vice President of Dangote Industries Limited, Devakumar Edwin, disclosed this in a recent interview with Reuters.

According to Edwin, the amount of crude received from the Nigerian National Petroleum Company Limited is “peanuts” compared to the volume needed to ramp the production of refined products.

He stressed that the NNPCL hasn’t met the target to deliver a minimum of 385,000 bpd since the commencement of the programme in October.

“We need 650,000 barrels per day. NNPCL agreed to give a minimum of 385,000 bpd, but they are not even delivering that,” the Dangote official said.

Recall that the Nigerian government and the Dangote Refinery struck a deal on a Naira-for-crude deal.

The government had announced that it had started to implement the initiative in October 2024.

However, a report emerged that Dangote Refinery resumed crude supply from the United States to ramp up production in the $20 billion-worth firm.