Apr 9, 2025
FG and Dangote Refinery Reaffirm Naira-for-Crude Deal
Officials from the presidency met with NNPC and Dangote Petroleum Refinery executives in Abuja on 9 April 2025 to resolve a brief dispute and confirm that the naira-for-crude arrangement, first directed by President Tinubu in 2024, would continue. Under the policy, NNPC supplies crude oil to domestic refineries in naira rather than dollars, a measure designed to shield local fuel prices from currency volatility and cut Nigeria's dependence on imported refined products. The arrangement was later extended indefinitely, with NNPC confirming it had supplied tens of millions of barrels to Dangote Refinery under the scheme since its launch.