The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has signed an agreement with the Nigerian National Petroleum Company Limited (NNPC Ltd) to sell crude oil to Dangote refinery in the Naira.
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NMDPRA in a statement issued on Tuesday revealed that the deal is in line with the recent approval by the Federal Executive Council (FEC) to sell crude oil to Dangote refinery and other indigenous refineries in Naira as well as buy petroleum products from the Dangote refinery in the Naira.
The authority also confirmed that Dangote has started petrol production and that the refinery will produce 20 million liters of petrol in September, 2024.
It said: “At the NMDPRA headquarters in Abuja, NNPC Ltd reached an agreement to commence crude oil sale and supply to Dangote Refinery in local currency.
“The refinery is now poised to supply an initial 25 million litres of PMS into the domestic market this September. And will subsequently increase this amount to 30 million liters daily from October 2024.”
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