The Federal Competition and Consumer Protection Commission, FCCPC is defending its mandate for a free market as it opposes the alleged intent of the Dangote Refinery to monopolise the petroleum industry.
The commission expressed that the monopoly was contrary to its mandate which ensures a free market, hence its requests to join the N100bn lawsuit filed by Dangote Petroleum Refinery.
Dangote Petroleum Refinery had filed a lawsuit seeking to permanently halt the imports of refined petroleum products into the country. Several entities are named as defendants in the lawsuit including the Nigeria National Petroleum Company Limited.
These companies Matrix Petroleum Services Limited, A.A. Rano Limited, and four others are also implicated in the suit, marked FHC/ABJ/CS/1324/2024.
If decided in favour of the Dangote Refinery, the import licenses issued to Nigerian oil companies by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) will be void. More so, with no licences to issue NMDPRA could begin to look less relevant.
FCCPC
The FCCPC’s lawyer, Olanrewaju Oshinaike filed a motion before the court to say that the commission would be affected by the final decisions of the court and should be let into the lawsuit.
Appearing before Justice Inyang Ekwo on Wednesday, Oshinaike pushed for its joinder in the suit. The lawyer pointed out that the suit is being propelled by the monopoly intent of the Dangote Refinery.
He presented legitimate arguments backed by the Act on which the Commission was established.
The commission is obligated by the standard of its establishment to eliminate anti-competitive agreements and practices that may restrict other participants from engaging in the petroleum product distribution value chain.
More so, the free-market economy of Nigeria entitles individuals and entities to take part in various sectors unhindered as the lawyer noted.
Dangote Refinery Lawsuit Details
Dangote Refinery suit is challenging the issuance of import licence for refined petroleum products to the NNPC and oil marketers by the Nigeria Midstream and Downstream Petroleum Regulatory Authority.
Dangote Refinery is the proposed joinder by the FCCPC as it considers the commission an intruder with no business in a case hinged on the Petroleum Industry Act, PIA, an Act of the National Assembly.
