President Bola Tinubu demonstrated foresight in July 2024, when he approved the use of the naira as the payment currency for crude oil supplied by the NNPC to the Dangote Refinery. Since the launch of the naira-for-crude initiative on October 1, 2024, Nigeria has experienced a strategic breakthrough amid the ongoing economic turmoil resulting from the Iran-Israel-US conflict in the Middle East.

NNPC Raises Dangote Refinery Crude Supply to Seven Cargoes – Report The Nigerian National Petroleum Company Limited has increased crude oil supply to the Dangote Petroleum Refinery and Petrochemicals, allocating seven cargoes for May loading in a move aimed at boosting domestic fuel production. Two trader...

Nigeria is ramping up efforts to strengthen crude oil production, with the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), Bashir Bayo Ojulari, projecting an incremental increase of about 100,000 barrels per day (bpd) in the coming months.

The Federation Account Allocation Committee (FAAC) received 100 percent of profit oil from Production Sharing Contracts (PSCs) remitted by the Nigerian National Petroleum Company Limited (NNPC Ltd).

State Seek Transparency in $8.8bn Crude-for-loan Agreements State governments have called for a forensic audit of Nigeria’s crude oil-backed borrowing arrangements, warning that opaque crude-for-loan and swap deals may be undermining inflows into the Federation Account. Economic Confidential earlier reported that the Nigerian National Petroleum Company...

Bonga Project Approval to Unlock $20bn Oil Investments - FG President Bola Tinubu has approved a targeted fiscal incentive package aimed at unlocking the long-delayed Bonga Southwest Aparo deepwater project, a development expected to attract about $20bn in foreign direct investment into Nigeria’s oil and...