Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has appealed a Federal High Court ruling that excluded it from a NGN100bn ($65.5mn) lawsuit involving Dangote Petroleum Refinery and Petrochemicals FZE, warning that its exclusion could facilitate monopolistic dominance in the country’s petroleum import market, Nairametrics has reported.
The case centres on the validity of petroleum import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to several companies, including Nigerian National Petroleum Company Limited (NNPCL), Matrix Petroleum, and A.A. Rano. The lawsuit, originally filed by Dangote Refinery, challenges the allocation of these licences.
The FCCPC is contesting the court’s earlier decision to deny its application to be joined as a party in the ongoing litigation. The Commission argues that a favourable judgment for Dangote Refinery could result in excessive concentration of import rights, contravening Nigeria’s competition legislation and restricting market access for other players, Nairametrics writes.
In an appeal dated March 18, FCCPC legal representative Olanrewaju Osinaike contended that the dismissal of the Commission’s application violated its statutory mandate and its constitutional right to a fair hearing. He maintained that the FCCPC has jurisdiction to intervene in all competition-related matters and must be allowed to contribute to proceedings with implications for market dominance. Justice Inyang Ekwo had earlier dismissed the application, describing it as lacking merit, and adjourned the case to May 6.
The FCCPC reiterated that its participation is critical to preventing fragmented litigation and ensuring the enforcement of consumer protection and fair competition laws. The appeal identifies Dangote Refinery, NNPCL, and six additional entities as respondents.
ASX-listed RareX has formed a consortium with fellow Australian miner Iluka Resources to bid for the exploration and development of Kenya’s Mrima Hill project, the company announced on ... more
A joint venture (JV) consisting of Chinese and Egyptian companies has signed an agreement for the preliminary design of the first phase of the Red Sea petrochemicals complex project, set to be ... more
Ghanaian cocoa buyer Federated Commodities PLC (FEDCO) has raised GHS72.5mn ($4.6mn) in the first tranche of its GHS200mn ($12.8mn) Commercial Paper programme, marking the first-ever listing on the ... more