No Fresh Case Against NNPCL, Others, Says Dangote Group as Negotiations Continue

Dangote Industries Limited has clarified that no new legal actions have been filed against the Nigerian National Petroleum Company Limited (NNPCL) or other entities involved in a matter that originally surfaced in June 2024 and led to court proceedings by September 6, 2024. 

According to a statement from Dangote, recent developments and ongoing discussions have made further legal action unnecessary.

The dispute centres around the Nigerian government’s directive, led by President Bola Tinubu, mandating that sales of crude oil and refined products be conducted in Naira, which was approved by the Federal Executive Council (FEC). 

Dangote Industries highlighted that substantial progress has been made in negotiations since this directive, which has shifted the need for continued legal proceedings.

“We have made tremendous progress in that regard, and events have overtaken this development,” the statement noted. 

Dangote emphasized that no court processes have been served on any party and there is no intention of resuming legal action. 

The parties have agreed to suspend the proceedings for now, said Dangote, assuring that no court orders have been issued, and the ongoing discussions have not had any negative impact on any of the parties involved. 

The company indicated that when the matter is revisited in January 2025, it plans to formally withdraw the case from the court.

This clarification comes amidst speculation and reports regarding the status of the case. 

Dangote Industries reiterated its commitment to resolving the issue through dialogue, aligning with the government’s broader economic policy initiatives.

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