However, reliable sources at the NNPC, who pleaded anonymity due to the sensitivity of the matter, confirmed to our correspondent that the company is leveraging its global crude trading network to source third-party crude for the 650,000-barrel Lekki refinery. According to the source, the NNPC would sell the crude to the refinery at prices that are competitive with prevailing international market rates, ruling out calls by some stakeholders that the Federal Government should sell feedstock to local refineries at rates designed locally to shield Nigeria from the global price rise. He added that, going by the existing agreements between the NNPC and Dangote, the NNPC will continue to facilitate crude supply to the facility, even in the face of temporary constraints.
Author: Punch Newspapers
Published at: 2026-03-18 23:50:07
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