Import licence: FHC dismisses N100b suit

The Federal High Court in Abuja has dismissed the N100 billion suit filed by Dangote Petroleum Refinery and Petrochemicals FZE against Nigeria National Petroleum Company Limited (NNPCL) and others over fuel import licence dispute.

Justice Mohammed Umar, in a ruling yesterday, dismissed the suit following an oral application by lawyers to the defendants after Dangote Refinery’s lawyer, C. O. Adegbe applied to withdraw the case.

Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and NNPCL; AYM Shafa Limited; A. A. Rano Limited; T. Time Petroleum Limited; 2015 Petroleum Limited, and Matrix Petroleum Services Limited were the defendants.

Dangote Refinery had prayed the court to nullify the import licences issued by NMDPRA to NNPCL and the five other companies for the purpose of importing refined petroleum products.

It sought a N100 billion in damages against NMDPRA for allegedly continuing to issue import licences to NNPCL and the five companies for importing petroleum products, among other reliefs.

Meanwhile, NNPCL plans to raise its shares in Dangote Refinery to 20 per cent, Group Chief Executive Officer,  Bayo Ojulari, revealed at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).

Ojulari said NNPCL was improving transparency about its performance in preparation for a long-awaited initial public offering.

“The IPO journey is by law. The PIA (Petroleum Industry Act) prescribes for NNPCL to journey towards achieving IPO. It’s not an option for us.

“We have begun to publish our monthly performance since May this year and that has continued”, Ojulari added