The Nigerian National Petroleum Company Limited (NNPCL) has finalized an agreement to sell crude oil to Dangote Petroleum Refinery in Naira, according to a statement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on its X handle, @NMDPRA_Official.

The agreement allows the NNPCL to begin supplying crude oil to Dangote Refinery in local currency. The refinery is set to deliver an initial 25 million liters of Premium Motor Spirit (PMS) daily to the domestic market starting in September 2024, with plans to increase this to 30 million liters per day by October.