NNPCL Denies Blocking Crude Supply to Dangote Refinery

(NNPCL. Photo Credit: OBSERVERS TIMES)

The Nigerian National Petroleum Company Limited (NNPCL) has dismissed claims that it withheld crude oil supplies from the Dangote Petroleum Refinery under the Federal Government’s naira-for-crude initiative.

In a statement issued on Sunday, the state-owned oil company said it delivered every available crude cargo allocated to the refinery under the programme, insisting there was no deliberate restriction or refusal to supply.

NNPCL maintained that all crude oil volumes earmarked for the naira-for-crude arrangement had been fully made available to the Dangote refinery in line with existing agreements, describing reports suggesting otherwise as inaccurate.

The clarification comes amid renewed public scrutiny over crude oil supply to the 650,000-barrel-per-day Dangote refinery and concerns surrounding the implementation of the Federal Government’s naira-for-crude policy, which was introduced to strengthen local refining, ease pressure on foreign exchange, and stabilise fuel prices.

The company reaffirmed its commitment to supporting domestic refining and pledged to continue working with relevant stakeholders to ensure transparency and the successful implementation of the initiative.