The Nigerian National Petroleum Company Limited (NNPC) has affirmed that it sent all cargoes of crude oil made available by the Federal Government through its naira-for-crude program to the Dangote Petroleum Refinery, without holding back any of them.
According to the report from the NNPC, all cargoes allocated for the program in 2026 have been sent to the refinery, even as the distribution was determined based on issues of the availability of crude oil, time frame for transportation, among others.
Andy Odeh, NNPC spokesperson, has asserted that the company has been living up to its commitments under the policy and is working hard to assist with operations of the refinery. However, engagements are being held to sort out issues related to supply.
Read Also: https://theportcitynews.com/2026/07/21/ncdmbrenaissance-to-train-300-engineers-in-oil-and-gas/
However, while making this statement, some officials within the Dangote Group maintain that what has been supplied to them is way behind their expectations. One top executive has reported that they receive four million barrels per month, against expectations of receiving about 13 million barrels.
The deficiency, according to the refinery, has compromised its capacity to maintain naira-based sales of fuel. In response, it has resorted to dollar pricing of petroleum products and has increased exports to generate foreign currency.
On the other hand, the firm assured that it would account for crude oil that has been acquired via the naira deal by making available the refined petroleum products priced in naira to the domestic market via NNPC.
The move has generated some worries within the downstream industry, with the marketers fearing that the use of dollar pricing would add another layer of cost pressure. Already, there have been complaints of petrol shortages and rising pump prices in Abuja.
The analysts explain that the problem reflects the larger issues facing the Nigerian petroleum industry, adding that despite domestic refining reducing the supply risks, pricing would always be impacted by international oil prices and foreign exchange fluctuations.
