The Dangote Petroleum Refinery has taken delivery of four crude oil cargoes from the Nigerian National Petroleum Company Limited (NNPCL) as part of the naira-for-crude agreement, according to officials from both the refinery and the Federal Government on Tuesday.
The deliveries occurred over the past three weeks, marking the commencement of the crude sale to local refineries using the local currency.
Officials familiar with the deal confirmed that more crude oil shipments are expected in the coming weeks.
A source close to the Technical Subcommittee on Domestic Sale of Crude Oil disclosed to The PUNCH that “more cargoes will be delivered to the Dangote refinery soon.”
The refinery, which cost $20 billion, is preparing to begin selling refined petroleum products, including Premium Motor Spirit (PMS), directly to local marketers.
According to refinery officials, the first phase of the naira-for-crude arrangement will last six months, though it may be extended depending on the…