The supply of crude oil in naira to the Dangote Petroleum Refinery by the Nigerian National Petroleum Company Limited is to last for six months in the first instance, pending a further review by the Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency.
According to report, the committee and the Dangote refinery confirmed on Monday that the naira-for-crude deal would last six months in the first phase because crude oil, being an international product, is priced in dollars.
Meanwhile, Bloomberg reported Monday that the Federal Government was set to deliver up to 400,000 barrels of Nigerian crude oil daily to the Dangote refinery.
The report said the development is expected to take place over the next two months, amounting to 24 million barrels of Nigerian crude oil supply between October and November 2024.
