Poor fuel: Matrix Energy slams N20bn libel suit against two media groups

Poor fuel: Matrix Energy slams N20bn libel suit against two media groups

An Indigenous oil company, Matrix Energy Limited, has asked a Federal Capital Territory High Court to restrain two media houses and others from further publishing alleged libellous stories about its oil shipping business.

Matrix and its CEO, Abdulkadir Adisa Aliu, in their court processes, denied any “involvement in colluding with Nigeria’s economic enemies to import adulterated, substandard, or low-quality petroleum products into the country.” 

They had earlier responded to reports accusing them of importing substandard petrol into Nigeria, particularly from Malta, insisting that their products meet the required guidelines.

The spokesperson for the company, Ibrahim Akinola, in a statement on August 17, 2024, described reports by an online publication that Matrix Energy was behind the importation of petrol from Malta to Nigeria as not entirely accurate.

Newstrends reported that Aliko Dangote, CEO of Dangote Refinery, recently alleged that certain oil operators are colluding with the Nigerian National Petroleum Corporation (NNPC) to run an illegal blending plant in Malta, a European country, for the purpose of importing substandard petroleum products into Nigeria.

The Group Chief Executive Officer (GCEO) of NNPC, Mele Kyari, however, denied any ownership or operation of a refinery in Malta, vowing to push for the prosecution of any defaulting NNPC staff and others involved.

Interestingly, Nigeria’s petroleum imports from Malta saw a significant surge in 2023, reaching $2.8 billion.

This is a stark contrast to the years between 2017 and 2022, during which there were no imports, and the mere $13.32 million imported in 2016, raising concerns about Nigeria’s dealings with the small European nation.

In a statement on August 17, 2024, Matrix Energy, which is allegedly reported to be importing from Malta, denied any wrongdoing, adding that its petroleum products meet all regulatory guidelines.

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The company stated that it did not discharge 200,000 metric tons of PMS into its facility in July 2024, as claimed by the news report.

The oil company, however, did not deny the importation of petrol from Malta and elsewhere.

Meanwhile, the company noted that, like all oil operators in Nigeria, it has the right to source its products from any part of the world, as long as it is not breaking any Nigerian or international law.

“Our Chief Executive Officer, Abdulkabir Adisa, is a talented and dedicated Nigerian with the right to associate freely as well as trade freely in any part of the world. As he stated in his presentation before the Nigerian Senate, we are not aware that Nigerian companies have been banned from bringing in legitimate and standard products from outside the country, and until such a ban is in place, we will continue to serve the public with the best quality products,” the company said. 

Matrix heads to Court

The oil firm has now approached the FCT High Court, seeking declaratory reliefs(dated August 21, 2024) against certain publications, including a “retraction” of the reports and over N10 billion in “damages”.

The oil firm’s lawyer, Ahmed Raji SAN, urged the court to hold that the media organization “falsely and maliciously published” the said reports against his clients.

He maintained that his client is a member of the Presidential Economic Coordination Council (PECC), an elite body of eminent Nigerians tasked with developing sustainable ideas to bolster the nation’s economic governance framework and ensure robust and coordinated economic planning and implementation.

Poor fuel: Matrix Energy slams N20bn libel suit against two media groups