The Federal Government is set to deliver up to 400,000 barrels of Nigerian crude oil daily to the Dangote refinery under its naira-for-crude agreement. This development marks a significant shift in Nigeria’s oil supply dynamics.
Over the next two months, the refinery will receive a total of 24 million barrels of crude oil, enhancing its processing capacity and potentially transforming the region’s import and export markets. The initiative is expected to begin in October and continue through November 2024.
The naira-for-crude agreement, recently announced by the Federal Government, aims to bolster domestic oil production and processing. This move supports the Dangote refinery’s operations and has broader implications for Nigeria’s economic landscape, particularly in the oil sector.
(Source: Punch News)
