Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, says the company has terminated its crude-for-petrol swap deal, otherwise called Direct Sale Direct Purchase (DSDP) contracts, with foreign refiners and consortia of traders.
Kyari spoke at the weekend during an interview with Reuters. He said NNPC would now pay cash for petrol imports. He also revealed that private oil marketing companies in Nigeria could begin importing petrol as early as this month.
