WATCH THE VIDEO HERE Dangote Refinery and Petrochemicals announced on Thursday that it is settling out of court with the Nigerian National Petroleum Company Limited (NNPCL) and six other defendants regarding import licenses granted by the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The refinery had filed a suit in September 2024 seeking to nullify the licenses and claim N100 billion in damages from NNPCL. However, discussions between the parties have made significant progress following President Bola Tinubu’s directive on crude oil and refined product sales in naira, which was approved by the Federal Executive Council. In a statement, Anthony Chiejine, Dangote’s Group Chief Branding and Communications Officer, said, “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 Refinery argued that the import licenses should not have been issued when there was no shortfall in domestic production. The refinery also sought exemptions from taxes and levies based on its Free Zone Enterprise status. Justice Inyang Ekwo of the Federal High Court in Abuja adjourned the matter until January 20, 2025, for a report on the settlement after being notified by Dangote’s legal team that the defendants were open to an out-of-court resolution.
Dangote Refinery Halts Legal Proceedings Against NNPCL, Others Amid Naira Sales Directive
