In a surprising twist of events, the Dangote Group says it will withdraw its ₦100bn suit against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for granting import licenses to the Nigerian National Petroleum Company Limited (NNPCL), Matrix Petroleum Services Limited, AA Rano Limited, and four other companies despite local production of petroleum products.
The Dangote Group, in a statement late Monday, said the suit filed at the Federal High Court in Abuja on September 6, 2024, was “an old issue” and that events have overtaken the suit.
Spokesman for the group, Anthony Chiejina, said the parties involved in the suit have commenced conciliatory talks.
He also said that the refinery does not have any intention of proceeding with the suit.
Statement by Dangote refinery
This is an old issue that started in June and culminated in a matter being filed on September 6, 2024
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.
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