The Nigerian National Petroleum Company Limited (NNPCL) has delivered first supply of four cargoes of crude oil to Dangote Petroleum Refinery (DPR) under the naira-for-crude sale agreement.
The development was confirmed by officials of the refinery and the Federal Government (FG) on Tuesday.
It was gathered that four cargoes of crude were delivered to the refinery within the past three weeks when the government commenced sales of crude to local refineries in Naira, even as the refinery is still expecting more supply in a few weeks time.
Reliable sources have also confirmed that the $20bn Lekki-based DPR was poised to begin direct sale of petrol to domestic dealers.
The source added that the programme started with the Dangote Refinery as the only current petrol-producing giant in the country.
A senior official of the refinery who preferred anonymity, said the first phase of the naira-crude sale agreement would last for six months unless it is renewed by the FG.
“The naira-for-crude deal has started. The Dangote refinery has received four cargoes so far and we are still expecting more. The four cargoes have been delivered to the refinery within the past three weeks. We are still expecting more cargo in the coming week,” the official said.
“Don’t forget that this first phase of the naira-crude sale is just for six months. The government may decide to renew it at the end of the first six months and they may decide not to. So, we don’t know what will happen yet after the first six months.”