Financial Energy Review
Dangote Group has said it did not file a fresh lawsuit against Nigeria National Petroleum Corporation Limited (NNPC) and others.
The group made this known in a statement on Monday night in reaction to reports that it dragged the NNPC, Matrix Petroleum Services Limited, A. A. Rano Limited and four other companies before the Federal High Court in Abuja over fuel importation.
The reports said Dangote Petroleum Refinery and Petrochemicals FZE asked the court to void import licenses issued to the companies for the purpose of importing refined petroleum products that are already being produced by Dangote without shortfalls.
Also, it was reported that Dangote Refinery sought N100 billion in damages against the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for allegedly continuing to issue import licenses to NNPC, Matrix, and other companies for importing petroleum products such as automotive gas oil (AGO) and jet fuel (aviation turbine fuel) into Nigeria, “despite the production of AGO and Jet-A1 that exceeds the current daily consumption of petroleum products in Nigeria by the Dangote Refinery.”
However, in its statement, Dangote Group said the suit was filed in September and has since been overtaken by events.
“This is an old issue that started in June and culminated in a matter being filed on September 6, 2024,” the statement said.
“Currently, the parties are in discussion since the President Bola Tinubu’s directive on Crude Oil and Refined products sales in Naira Initiative, which was approved by the Federal Executive Council (FEC).
“We have made tremendous progress in that regard and events have overtaken this development.
“No party has been served with court processes and there is no intention of doing so. We have agreed to put a halt to the proceedings.
“It is important to stress that no orders have been made and there are no adverse effects on any party. We understand that once the matter comes up January 2025, we would be in a position to formally withdraw the matter in court.”
