Three oil companies, AYM Shafa Limited, A. A. Rano Limited, and Matrix Petroleum Services Limited, are taking a stand in court against Dangote Petroleum Refinery and Petrochemicals, aiming to prevent a move they say could lead to a monopoly in Nigeria’s oil sector.
They have filed a counter-affidavit in the Federal High Court in Abuja, dated November 5, 2024, to dismiss Dangote’s case.
Beyond Boders recalls that Dangote Refinery initially filed a lawsuit in September 2024, arguing that the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) should not issue petrol import licenses unless there is a shortage.
Dangote also claims NMDPRA is not fulfilling its duty to promote local refineries, like his, under the Petroleum Industry Act (PIA).
In response, AYM Shafa, A. A. Rano, and Matrix Petroleum argue that Dangote’s refinery does not yet produce enough petrol for Nigeria’s needs. They believe that stopping imports would lead to higher fuel prices and potential shortages, which could harm the economy.
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The marketers say they meet all requirements to import fuel and argue that their licenses are fully legal under the PIA and other laws.
One of the marketers stated that giving Dangote Refinery a monopoly over Nigeria’s fuel market would “unleash untold hardship on Nigerians, all of which constitute a recipe for disaster in the polit.”
The oil marketers also warn that it would create an energy crisis if the refinery faces any production issues. They stress that relying solely on Dangote’s refinery for fuel could lead to disaster if it cannot meet daily demand.
Meanwhile, a Bloomberg report shows Dangote Refinery, which started production earlier this year, mainly exports to international companies like Vitol Group, Trafigura Group, and BP Plc. These companies reportedly account for 75% of the refinery’s sales.
Dangote’s refinery, once fully operational, is expected to process 650,000 barrels of crude per day, significantly impacting both African and European fuel markets.
Justice Inyang Ekwo has set the next court date for January 20, 2025, where the parties will present any progress made toward a settlement.
