In an attempt to prevent the Nigeria National Petroleum Company Limited and oil marketers from bringing refined petroleum products into the nation, Dangote Petroleum Refinery filed a lawsuit worth N100 billion.
In a recent development, the Federal Competition and Consumer Protection Commission has pleaded with the Federal High Court in Abuja to permit it to join the case.
However, Dangote Refinery opposes the FCCPC’s request to join the lawsuit, calling the commission an intrusive third party with no business in the matter involving the Petroleum Industry Act, a National Assembly Act.
The FCCPC stated that to challenge Dangote Refinery’s lawsuit, it must be permitted to join the case as a defendant.
The commission contended that the FCCPC’s mandate to maintain a free market ran counter to Dangote Refinery’s goal of monopolizing the petroleum sector.
On Wednesday, Olanrewaju Oshinaike, the commission’s attorney, went before Justice Inyang Ekwo to advocate for the commission’s inclusion in the lawsuit.
Oshinaike contended in the motion he submitted to the court that the FCCPC had to be included in the case as the commission’s mission would be impacted by any ruling the court rendered.
The primary focus of Dangote Refinery’s lawsuit, according to the attorney, is anti-competition and monopoly in the petroleum sector.
According to the commission, Nigeria has a free-market economy that permits people and organisations to engage in a variety of industries without facing any obstacles.
Additionally, the FCCPC stated that it is required under its Act, which created the commission, to get rid of anti-competitive contracts and practices that can prevent other players from participating in the value chain for the distribution of petroleum products.
Eliminating anti-competitive agreements and unfair, dishonest, or unethical marketing, trading, and commercial practices is one of the FCCPC’s responsibilities, Oshinaike emphasised.
Meanwhile, at the Wednesday proceedings, Justice Ekwo fixed March 18 to rule on the preliminary objection filed by the NNPCL, seeking the dismissal of the N100 billion lawsuit by the Dangote Refinery and Petrochemicals.
TimesNow.com.ng reported that the mega Dangote Refinery had sold two consignments of jet fuel to Saudi Aramco, the world’s biggest energy company valued at $1.92 trillion.
The move positioned Dangote Refinery as a global leader in the energy business.
President of Dangote Industries Limited, Aliko Dangote, disclosed this to the directors of the Nigerian Economic Group (NESG) during the facility’s tour on Tuesday, February 4, 2025, saying the refinery is making giant strides.
Source: TimesNow.com.ng
