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NNPC and Dangote Refinery Sign New Two-Year Crude Oil Supply Deal
Nigerian National Petroleum Company Limited (NNPC) and Dangote Refinery have finalized a new two-year agreement to supply crude oil to the Dangote Petroleum Refinery. The deal, valued at approximately $20 billion, aims to bolster Nigeria’s domestic refining capacity and reduce reliance on imported refined products.....KINDLY READ THE FULL STORY HERE▶
Under the terms of the agreement, NNPC will supply Dangote Refinery with over 112 million barrels of crude oil from December 2023 through September 2025. This arrangement is part of Nigeria’s broader strategy to enhance energy security and stabilize the domestic fuel market.
The Dangote Petroleum Refinery, located in Ibeju-Lekki, Lagos, is Africa’s largest single-train refinery, with a capacity to process 650,000 barrels of crude oil per day. The facility began operations in 2023 and has since played a pivotal role in refining petroleum products for the Nigerian market.
This new agreement follows a series of discussions between NNPC and Dangote Refinery, including a previous six-month contract that commenced in October 2024. The earlier deal faced challenges, including discrepancies in crude oil deliveries and concerns over the refinery’s export activities. The latest contract aims to address these issues by ensuring a more consistent and reliable supply of crude oil to the refinery.
The Nigerian government has expressed support for the agreement, emphasizing its potential to create jobs, reduce fuel importation costs, and strengthen the local economy. However, the deal has also sparked debates about the balance between domestic fuel supply and export ambitions. Critics argue that prioritizing exports could lead to fuel shortages and price increases in the local market.
In response to these concerns, Dangote Refinery has committed to maintaining a steady supply of refined products to the Nigerian market. The company has also pledged to adhere to the terms of the new agreement and collaborate with NNPC to address any challenges that may arise during the contract period.
As the agreement progresses, stakeholders will be closely monitoring its impact on Nigeria’s fuel supply, pricing, and overall economic stability. The success of this partnership could serve as a model for future collaborations between the government and private sector in the energy industry.
The Dangote Refinery’s expansion plans include increasing its production capacity and exploring opportunities for international partnerships. These initiatives align with Nigeria’s vision to become a leading player in the global energy market.
In conclusion, the renewed crude oil supply agreement between NNPC and Dangote Refinery marks a significant step towards enhancing Nigeria’s energy infrastructure and achieving greater self-sufficiency in petroleum product production. While challenges remain, the commitment of both parties to the agreement underscores the importance of collaboration in achieving national energy goals.
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“They Didn’t Even Want To See Me” — Atiku Opens Up On PDP Coalition Snub.
Former Vice President Atiku Abubakar has revealed that his push for an opposition coalition was initially rejected by members of the Peoples Democratic Party (PDP).....KINDLY READ THE FULL STORY HERE▶
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Atiku Opens Up On ADC 2027 Game Plan, Says Consensus Candidate Comes First.
Former Vice President Atiku Abubakar has said the African Democratic Congress (ADC) will first pursue a consensus arrangement before considering a primary election for its 2027 presidential ticket.....KINDLY READ THE FULL STORY HERE▶
Atiku made this known during an interview on Arise Television on Wednesday while discussing the party’s leadership and strategy ahead of the next general election.
He said he is open to backing a consensus candidate if that becomes the party’s collective decision, stressing that such support should not be interpreted as stepping aside.
“It is not about stepping aside, but whether I am willing to support, and yes, I will,” Atiku said.
According to him, the ADC’s first priority is to build internal unity and reach an agreement among stakeholders before considering a competitive primary process.
“Our first option will be to work out a consensus. If that doesn’t happen, then of course we will explore other options. And yes, I will support whoever eventually emerges,” he stated.
Atiku also expressed confidence in the political experience within the party, saying he believes a consensus is achievable and may make a full-scale primary contest unnecessary.
“That remains our preferred path. We will go for primaries if consensus fails, but I honestly do not expect it to get to that stage because we are dealing with mature and experienced politicians,” he added.
His comments come amid growing political consultations and coalition talks as parties begin to position themselves ahead of the 2027 general elections.
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2027: I Stand A Better Chance To Win Presidency Than Anyone Else – Atiku.
Former Vice President Atiku Abubakar has said the opposition coalition under the African Democratic Congress (ADC) has significantly strengthened his chances of winning the 2027 presidential election.....KINDLY READ THE FULL STORY HERE▶
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