The Dangote Petroleum Refinery and Petrochemicals FZE says it is ready for an out of court settlement with the Nigeria National Petroleum Company Limited (NNPC), Matrix Petroleum Services Limited, A. A. Rano Limited, and four other companies, whose petrol import licenses it had approached a court, seeking the government to revoke.
This is just as it said it had not filed a fresh case against the seven defendants.
The company in a statement, referred to the matter as 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 President Bola Tinubu’s directive on Crude Oil and Refined products sales in the 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 in January 2025, we would be in a position to formally withdraw the matter in court,” the statement read.
Dangote Refinery had approached the Federal High Court in Abuja seeking an order to void the import licenses issued to the Nigeria National Petroleum Corporation Limited (NNPC), Matrix Petroleum Services Limited, A. A. Rano Limited, and four other companies for the purpose of importing refined petroleum products, claiming that it is already producing the products without shortfalls.
At the resumed sitting before Justice Inyang Ekwo, George Ibrahim SAN, counsel for the plaintiff, informed the judge that there was a development in the case as the parties are trying to settle.
“My lord, there is a development in this matter, which the lead counsel, James Onoja SAN, has asked me to bring to the court’s attention. At the time we were trying to serve the originating summons on the defendants, they started discussing,” he said.
He, subsequently, requested an adjournment to allow the parties the opportunity to reach a settlement.
He suggested that the court should adjourn for either a possible report of settlement or a report of service.
“Case adjourned to January 20, 2025, for report,” Ekwo responded.
