AGS NEWS – The planned supply of crude oil in naira by the Nigerian National Petroleum Company Limited (NNPC) to the Dangote Petroleum Refinery, which was scheduled to begin on October 1, 2024, has not yet started as of October 3.

Officials from the Dangote refinery, NNPC, and other government bodies have remained silent when asked for updates.

Earlier, it was reported that the Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency had confirmed that NNPC would start supplying 385,000 barrels per day of crude oil to the Dangote refinery, to be paid for in naira, starting October 1.

ALSO READ: Crude oil contributed N14.56bn to Nigeria’s exports in Q2 – Report

However, sources within domestic refineries said they had not received any communication about the start of the deal.

Despite reassurances from government officials, including Zacch Adedeji, the Chairman of the Technical Sub-Committee, that efforts were on track, refiners are still waiting for confirmation to proceed.

The naira-for-crude initiative is aimed at reducing pressure on the naira and ensuring a steady supply of petroleum products in Nigeria.