Three major oil marketers—AYM Shafa Limited, A. A. Rano Limited, and Matrix Petroleum Services Limited—have taken a stand against Dangote Petroleum Refinery’s bid for exclusive rights to import petroleum products. In a recent filing at the Federal High Court in Abuja, these marketers argued that the monopoly sought by Dangote would harm Nigeria’s oil sector.
Dangote’s refinery filed a case on September 6, 2024, against Nigeria’s regulatory authorities and several marketers, seeking to limit import licenses for petroleum products to cases of supply shortfalls. It argues that import licenses should be restricted to support domestic production, as outlined in the Petroleum Industry Act (PIA). However, the marketers counter that Dangote’s refinery alone cannot meet Nigeria’s demand, emphasizing that competition ensures stable prices and energy security.
They warned that a monopoly in fuel supply could lead to price hikes and an energy crisis if the refinery faced production issues. They stressed the need for multiple suppliers to protect Nigeria’s energy market and economy. Justice Inyang Ekwo set January 20, 2025, for further hearings. Meanwhile, Dangote continues exporting significant volumes to international buyers, with diesel and fuel oil as its primary products.
