Three major oil marketers, AYM Shafa Limited, A. A. Rano Limited, and Matrix Petroleum Services Limited, have challenged Dangote Refinery’s bid to control Nigeria’s petrol import market. They filed a counter-suit in the Federal High Court in Abuja, asserting that a monopoly could disrupt the nation’s energy sector, increase fuel prices, and lead to economic hardship for Nigerians.
The oil marketers argue that Dangote’s refinery lacks the capacity to meet Nigeria’s daily fuel demands, making competition in imports essential for price stability and reliable supply. They warn that placing full control of fuel imports with Dangote could lead to shortages and leave Nigeria vulnerable to supply disruptions, which they consider a potential “recipe for disaster.”
In response to Dangote Refinery’s claims that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) violated the Petroleum Industry Act by issuing import licenses, the marketers contend they have lawfully obtained these licenses. The court has scheduled January 20, 2025, for a report on potential settlement or further proceedings.
