The Federal High Court in Abuja, three major oil marketers AYM Shafa Limited, A. A. Rano Limited, and Matrix Petroleum Services Limited have raised alarms over Dangote Petroleum Refinery's attempt to monopolize Nigeria's energy sector.
The marketers argue that such a move could have catastrophic consequences for the country's oil industry.
The case, which has captured national attention, centers on Dangote's lawsuit against several entities, including the Nigeria Midstream And Downstream Petroleum Regulatory Authority (NMDPRA) and the aforementioned marketers.
Dangote contends that NMDPRA violated sections of the Petroleum Industry Act by issuing import licenses without a proven shortfall in petroleum products. However, the marketers counter this claim, asserting their right to import licenses under the same act.
In their court submissions, the marketers warn that allowing Dangote to become the sole producer and supplier of petroleum products would "kill competitive pricing" and exacerbate Nigeria's already fragile economy.
They caution that such a monopoly would lead to rising prices and threaten the nation's energy security. "If Nigeria puts all her energy eggs in one basket," they argue, "the prices of petroleum products will continue to rise, and energy security will elude Nigeria."
The marketers further highlight the risks of relying solely on Dangote for the country's energy needs, pointing out the lack of evidence that Dangote can meet Nigeria's daily petroleum consumption.
They stress that any disruption in Dangote's production chain could plunge the nation into an energy crisis, as Nigeria lacks sufficient reserves to cover such eventualities.
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