The Nigerian National Petroleum Company Limited (NNPC) has insisted that it supplied all available crude oil cargoes allocated under the Federal Government’s naira-for-crude initiative to the Dangote Petroleum Refinery, denying claims that it withheld crude from the refinery.
NNPC’s spokesman, Andy Odeh, said the company had fully met its obligations under the arrangement, adding that any differences in supply were due to factors such as crude availability, nomination timelines and the refinery’s operational schedule.
However, a senior official of the Dangote Group maintained that the refinery has been receiving only four million barrels of crude monthly, far below the 13 million barrels expected under the initiative.
According to the refinery, the shortfall forced it to discontinue naira-denominated fuel sales and adopt dollar pricing for petroleum products while increasing exports to earn foreign exchange.
Despite the disagreement, NNPC said it remains committed to supporting the refinery’s operations, describing Dangote Refinery as a key partner in strengthening Nigeria’s energy security.
Meanwhile, petrol supply tightened in parts of Abuja, with some filling stations closed and pump prices rising to as high as ₦1,280 per litre, raising fresh concerns among motorists.
Industry experts say while Dangote’s decision to sell fuel in dollars may reduce exchange rate risks for the refinery, local fuel prices will continue to depend on global crude oil prices and the naira’s performance.
