… Absolves NNPCL, NMDPRA Of Alleged Favouritism
Matrix Energy has refuted claims that it is behind the importation of substandard petroleum products, including Premium Motor Spirit (PMS), diesel and Jet A-1 fuel, from Malta and Russia.
A recent publication by a newspaper (Not NewsNGR) alleged that Matrix Energy’s Chief Executive Officer, Abdulkabir Adisa Aliu, who is a member of the Presidential Economic Coordination Council (PECC), was linked to the surge in imports from the countries.
This has sparked thousands of comments on microblogging sites X, with ‘Malta’ and ‘Dangote’ trending on the platform on Saturday.
The report said in 2023, Nigeria’s petroleum importation from Malta surged significantly to $2.8bn as against zero between 2017 and 2022, and a mere $13.32m in 2016.
The report alleged, “Matrix — which has three old ships (Matrix Pride, Matrix Triumph, and Matrix S.ILU) — reportedly loads diesel products exported from Russia in Lome, Togo.
“It is understood that the diesel from Russia is typically off-spec and is often corrected in places like Lome and Malta through blending with other components.”
This allegation was first brought up by Dangote Group when their Founder and Chairman, Aliko Dangote, claimed that oil traders and terminals have opened a blending plant in Malta.
The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, further accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of indiscriminately licensing traders to import “dirty” diesel and jet fuel into the country.
This was after he failed to secure feedstock arrangement for his refinery — Dangote Petroleum Refinery and Petrochemicals —, resulting in alleged blackmail against the government to bend rules in the Petroleum Industry Act 2021, according to experts.
In response to the claims made against its CEO, 20-year-old Matrix described the allegations as “lies” aimed at destroying the firm’s reputation as well as that of its CEO and founder.
Matrix Energy also absolved the NMDPRA and Nigerian National Petroleum Corporation Limited (NNPCL) of any wrongdoing.
Matrix Energy clarified that the NMDPRA is the sole regulatory body empowered by the PIA 2021 to issue import licenses and enforce the Standards Organization of Nigeria (SON) product specifications adding that the company has never compromised quality or sabotaged the country.
Matrix said, “Matrix Energy has consistently imported products that meet the approved specifications, and we have never been found wanting in this regard. Our commitment to quality is reflected in the fact that none of our customers have ever rejected our products; indeed, demand for Matrix products often exceeds our capacity to supply, a testament to our reputation for reliability. This success is equally reflected in our fertilizer businesses.
“Our depots boast a storage capacity of 150 million liters of liquid products, including LPG and bitumen. However, contrary to the claims made in the aforementioned publication, we did not discharge 200,000 metric tons of PMS into our facility in July 2024.
“While we have the capacity and customer base to handle such volumes, Matrix Energy has never imported or distributed any substandard cargo in our two decades of operation. Our quality test has never been doubted by the regulators and Nigerians who have found a partner in us.”
The NNPCL on August 5, 2024 introduced its Utapate crude oil blend from OML 13 and the state-owned company has exported its first shipment.
Matrix said, “NNPC traditionally tenders its free crude cargoes, and any company that wins the tender is operating within the law. Matrix Energy like other companies also won the tenders. As a people-oriented company that operates above board and in line with international best practices, we welcome constructive criticisms.
“Our Chief Executive Officer, Abdulkabir Adisa Aliu is a talented and dedicated Nigerian with the right to associate freely as well as trade freely in any part of the world. Like 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 is done, we will continue to serve the public with best quality products.”
The firm said its CEO is deeply committed to making a positive impact adding “his selection by Mr. President to serve as a member of the Economic Coordination Council is a recognition of his dedication to shared values and his commitment to the betterment of Nigeria.”
The company said it will not relent in its commitment to supporting Nigeria by ensuring the availability of petroleum products at competitive prices.