The Dangote Refinery and Petrochemicals said yesterday it has opted for settling out of court with the Nigerian National Petroleum Company Limited, NNPCL, and six others over import licences granted them by the Nigeria Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, to import petrol into the country.
Recall that the company had filed a suit before a Federal High Court in Abuja, asking it to void the licenses and also award it N100billion Sabotage damages against the 1st defendant which is the NNPCL.
However, in a statement last night, Dangote said it was ready to settle the case amicably with NNPCL and other defendants in what it described as an old case filed in June.
The statement, signed by the Group Chief Branding and Communications Officer, Anthony Chiejine, read: ‘’This is an old issue that started in June and culminated in a matter filed on Sept 6, 2024.
‘’Currently, the parties are in discussion since President Bola Tinubu’s directive on crude oil and refined product sales in naira initiative, which the Federal Executive Council, FEC, approved.
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‘’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 in January 2025, we will be in a position to formally withdraw the matter in court.’’
Dangote had in the suit, marked: FHC/ABJ/CS/1324/2024, queried the propriety of the licence issued to the defendants to bring refined petroleum products into the country when there is no shortfall in its production
