By Sunday Michael Ogwu The Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency has confirmed that the supply of crude in naira by the Nigerian National Petroleum Company Limited to the Dangote Petroleum Refinery is to begin on Tuesday, October 1, 2024. On September 13, 2024, the committee announced that the Federal Executive Council under the leadership of President Bola Ahmed Tinubu approved the sale of crude to local refineries in naira and the corresponding purchase of petroleum products in naira. “From October 1, NNPC will commence the supply of about 385kbpd (385,000 barrels per day) of crude oil to the Dangote refinery to be paid for in naira,” the committee had declared.
Mr Dare Adekanmbi, the Special Adviser on Media to the FIRS Chairman, Zacch Adedeji, the Chairman of the Technical Sub-Committee, confirmed this during a media enquiry. Nigeria will survive ‘perilous times’ — Rev. Okotie Police inspector accused of stabbing man to death over N200 He said, “I can confirm to you that the Chairman, Sub-Technical Committee, Zacch Adedeji, is working day and night to ensure that things go according to plans.
He knows how important it is to have the agreement implemented as has been planned for the benefit of Nigerians.” This implies that NNPC is to supply about 11.5 million barrels of crude oil to the Dangote refinery monthly, and based on the deal, the plant will release equivalent volumes of refined diesel and petrol to the domestic mark.