Back

Dangote Refinery discontinues lawsuit against NMDPRA, NNPC, others

Dangote Refinery discontinues lawsuit against NMDPRA, NNPC, others

Dangote Petroleum Refinery has withdrawn its lawsuit against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), NNPC Ltd, and five other petroleum companies. Dangote Refinery had accused NMDPRA of violating the Petroleum Industry Act (PIA) by issuing import licenses to other marketers, arguing that such licenses should only be issued if there is a petroleum product shortage. The refinery sought N100 billion in damages. The defendants countered that they were qualified for licenses and accused Dangote of attempting to monopolize the market. The NMDPRA stated that Dangote's production didn't meet national demand. While the court had previously dismissed a preliminary objection by NNPC, Dangote Refinery ultimately discontinued the suit without explanation on July 28th.

Sentiment: Negative ( -0.95 ) Bias: Neutral

Comments