NNPC Insists It Fully Supplied Naira-for-Crude Cargoes to Dangote Amid Shortfall Claims
The Nigerian National Petroleum Company says it honoured the naira-for-crude deal by allocating all available cargoes to Dangote Petroleum Refinery. It noted that actual off-take depends on crude availability, nomination timelines and the refinery’s own scheduling. Dangote officials, however, say they are receiving just four million barrels monthly instead of the 13 million barrels envisaged. They have shifted to dollar-denominated fuel sales and plan to export more refined products to earn foreign exchange. The supply gap has worsened fuel shortages in Abuja, with several stations closed and pump prices rising to as much as ₦1,280 per litre. Consumers now face longer waits and higher costs for petrol in the capital. Experts say pricing in dollars links domestic pump prices more closely to international crude rates and exchange-rate movements. While this can boost revenue certainty and energy security, it also passes forex risk to marketers and consumers.
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