The Dangote Refinery and Petrochemicals Limited has alleged that it was not getting adequate supply of crude oil from the Nigerian National Petroleum Company Limited (NNPC Ltd)

Making the disclosure on Friday was the Vice-President, Dangote Industries Limited (DIL), Mr. Edwin Devakumar, in an interview with Reuters, saying it was getting ‘peanuts’ of crude oil supplies from NNPC Ltd.

He said: “We need 650,000 barrels per day, (state oil firm NNPC Ltd) agreed to give a minimum of 385,000 bpd but they are not even delivering that.”

Also speaking to Reuters, acting Executive Director of the Crude Oil Refinery-owners Association of Nigeria (CORAN), Mathins Obaze, said only the Dangote Refinery, one of eight refineries in operation in Nigeria, has benefited from the naira-denominated crude sales arrangement.

Obaze said: “Members are still unable to access crude in naira and are currently engaging the government for a resolution.”

The insufficient supplies give indication that the Naira-for-Crude scheme announced by the Federal Government had yet to become efficient.

The Federal Government on October 5, 2024 said Nigeria officially commenced the sale of crude oil and refined petroleum products in naira.

Efforts to get the response of the Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye proved abortive as he neither picked his calls nor replied to a message sent his whatsapp number on the subject matter but the Group Chief Executive Officer, Mallam Mele Kyari speaking at the opening ceremony of the 42nd Nigeria Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition in Lagos said the crude for naira scheme is a very great initiative.

He stated that it is untrue that NNPC Ltd does not want to sell crude to refineries in naira.