Featured, Oil & Gas
By Anthony Isibor
THE Dangote Industries Limited, DIL has announced plans to withdraw the legal action it filed against the Nigeria National Petroleum Corporation Limited, NNPCL and six other companies urging the court to restrain them from importing refined petroleum products.
Although the court had on Monday adjourned the case to January 2025, Dangote says that by then, it would be in a position to formally withdraw the matter in court as the parties involved are in discussion since President Bola Tinubu’s directive on Crude oil and Refined products sales in Naira initiative, which was approved by the Federal Executive Council, FEC.
In the suit filed in September 2024, Dangote Petroleum Refinery and Petrochemicals, prayed the Federal High Court, Abuja to void import licenses issued to NNPCL and six other companies to import refined petroleum products, which Dangote Refinery is already producing locally without shortfalls.
The suit, registered as FHC/ABJ/CS/1324/2024 also sought 100 billion Naira damages because the licenses would allow the seven companies import 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,” Dangote Group said in a statement.
Tags: Dangote Group
