NNPC Suspends Crude Oil Supply to Local Refineries Until 2030 – Here’s Why

The Nigerian National Petroleum Company (NNPC) Limited has officially ended its naira-for-crude arrangement with Dangote Petroleum Refinery and other local refineries. This decision has raised concerns about potential fuel price hikes, as refineries will now need to source crude oil from international suppliers and pay in U.S. dollars instead of naira.

With this shift, production costs are expected to rise, which could ultimately result in higher fuel prices for consumers. Sources reveal that NNPC has already informed refineries that it has forward-sold all its crude oil, leaving them reliant on foreign markets for supply.

This development comes as Nigeria continues to navigate economic challenges in its energy sector. Many industry analysts fear that relying on international crude supplies could place additional pressure on fuel availability and pricing in the country.

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