The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced on Tuesday that the Nigerian National Petroleum Company Limited (NNPCL) has finalized an agreement to sell crude oil to Dangote Petroleum Refinery in Naira. The announcement was made via NMDPRA’s official X handle (@NMDPRA_Official).

The NMDPRA revealed that this deal, confirmed at its headquarters in Abuja, marks a significant step towards local currency transactions in the oil sector. The Dangote Refinery is set to begin supplying 25 million liters of Premium Motor Spirit (PMS) per day to the domestic market starting September 2024. This volume is expected to increase to 30 million liters per day from October 2024.

This development is expected to boost local fuel supply and reinforce the Nigerian government’s efforts to enhance domestic energy production.