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Court orders NMDPRA to continue issuing fuel import licences to Matrix, AA Rano, AYM Shafa

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The Federal High Court in Abuja has ordered the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to continue issuing and renewing petroleum products import licences to three major oil marketers, ruling that the regulator’s refusal to do so violates the Petroleum Industry Act (PIA).

Justice Inyang Ekwo delivered the judgement on Monday. The judge reportedly ruled that the authority’s refusal to grant or renew import licences for Matrix Energy, AA Rano and AYM Shafa was in “direct non-compliance” with the PIA, Nairametrics reported.

It said the judge specifically directed the regulator to continue granting, issuing, extending, renewing or reissuing licences, permits and authorisations for midstream and downstream petroleum operations, particularly the importation of petroleum products, once the companies meet all statutory and regulatory requirements.

The judgement followed a suit filed in June by the three oil marketers challenging the NMDPRA’s refusal to regularly issue or renew their petroleum products import licences.

The companies, through their lawyers, Raji Ahmed, a Senior Advocate of Nigeria, and Chris Ekemezie, argued that the PIA does not prohibit the importation of petroleum products into Nigeria or prevent the regulator from issuing licences to eligible importers.

The Court rulings

Delivering judgement on Monday, Mr Ekwo held that the NMDPRA’s refusal to issue and renew the licences was inconsistent with the provisions of the PIA and that the authority had acted beyond the limits of the law.

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He ruled that any exercise of regulatory powers relating to import licences in violation of the PIA and other relevant laws was “null and void”.

The judge also held that the plaintiffs had successfully established their claims against the regulator.

In a key part of the judgment, the court declared that Sections 31, 32 and other relevant provisions of the PIA, read alongside Section 72 of the Federal Competition and Consumer Protection Act, mandate the NMDPRA to promote competition in the midstream and downstream petroleum sectors.

The provisions also require the regulator to prevent the abuse of dominant market positions and restrictive business practices.

The court further declared that the three oil marketers were entitled to the issuance, extension or renewal of their import licences upon fulfilling the conditions stipulated by the NMDPRA.

The judge, however, clarified that the authority retains exclusive regulatory powers to grant, modify, extend, renew, suspend, cancel or terminate licences and permits for midstream and downstream petroleum operations.

Why the oil marketers went to court

In an affidavit filed on 26 June in support of the suit, Sabiu Saidu Mahuta, executive director of AA Rano Nigeria Limited, said the NMDPRA had, since July 2025, issued, extended or renewed import licences for the three companies only sporadically rather than regularly.

He argued that the regulator’s actions and inactions were entrenching market dominance and monopolisation of the downstream petroleum sector by local refineries.

Mr Mahuta also said the three companies had collectively invested more than $20 billion in infrastructure, logistics and retail networks to support their petroleum businesses.

“Collectively, the plaintiffs have invested more than $20,000,000,000 [Twenty Billion United States of America Dollars] in infrastructure, logistics and retail networks for the smooth operations of their licensed petroleum products businesses,” he stated.

The companies argued that allowing petroleum imports alongside local refining would promote competition, prevent monopolistic practices and price-fixing, and improve the overall performance of Nigeria’s midstream and downstream petroleum sectors.

Their lawyer, Mr Raji, urged the court to affirm the legality of petroleum products imports and the regulator’s obligation to issue licences to eligible operators.

Dangote Refinery’s legal suits

The judgement comes amid an ongoing legal dispute over the issuance of petrol import licences in Nigeria, particularly following the expansion of domestic refining capacity by the Dangote Refinery.

Dangote Refinery has argued in a separate suit that the continued issuance of petroleum products import licences contravenes Nigerian law, which it maintains permits imports only when local refineries cannot meet domestic demand.

The refinery recently filed a fresh N100 billion suit against the Attorney-General of the Federation at the Federal High Court in Lagos over the continued issuance of import licences.

Matrix Energy, AA Rano and AYM Shafa have also applied to join that suit.

The case remains pending before the court.

The latest ruling in Abuja, however, addresses the three oil marketers’ rights to obtain import licences from the NMDPRA, provided they meet the applicable statutory and regulatory conditions.

Nigeria’s changing petrol supply dynamics

The legal dispute comes as Nigeria’s petroleum supply landscape continues to change following increased output from domestic refineries.

PREMIUM TIMES reported that NMDPRA data published last week showed that petrol imports declined sharply in the first quarter of 2026, while supplies from local refineries rose to about 3.18 billion litres.

The statistical presentation of the report showed that crude oil receipts by domestic refineries increased to 683,000 barrels per day (bpd) in August from 585,000 bpd in July, representing a 17 per cent increase.

The increase became profound as domestic petrol receipts rose significantly while reliance on imported petrol declined.

According to the data, average daily Premium Motor Spirit (PMS) receipts increased by 11 per cent, from 45.5 million litres per day in July to 50.5 million litres per day in August.

The report indicated that domestic PMS receipts accounted for most of the increase, rising by 39 per cent, from 25.8 million litres per day to 35.9 million litres per day.

In contrast, PMS imports fell by 26 per cent, from 19.7 million litres per day in July to 14.6 million litres per day in August.

The growth in domestic refining has intensified discussions about the role of fuel imports, market competition, and the regulatory conditions governing the supply of petroleum products.

READ ALSO: Dangote refinery drove Nigeria’s petrol supply in August as NNPC refineries remain shut — Report

Meanwhile, PREMIUM TIMES reported last week that NMDPRS approved petrol import permits covering about 830,000 metric tonnes for multiple companies ahead of the fourth quarter of 2026.

George Ene-Ita, spokesperson for the authority, confirmed the development to PREMIUM TIMES last Tuesday.

“Yes, petrol import permits were approved for Q4 2026 to ensure no supply gaps are heading into the critical end-of-year period,” Mr Ene-Ita said.

Companies reportedly granted the permits include Matrix Energy, A.A. Rano, AYM Shafa, NIPCO, Pinnacle Oil and Bono Energy.

The approvals were reportedly issued on 18 September, although details of the individual allocations to the marketers are still sketchy. A request for details from PREMIUM TIMES, sent via email to the authority last week, was acknowledged, but has yet to be received.


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Leadway PFA Named Most Outstanding PFA Brand of the Year at 2026 Brandcom Awards

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Leadway PFA has been named Most Outstanding PFA Brand of the Year at the 2026 Brandcom Awards, earning recognition from Nigeria’s marketing communications industry for its brand strength and standing in the pension administration sector.

The award comes as Leadway PFA continues to strengthen its position in Nigeria’s pension industry, managing over ₦3 trillion in assets for more than 1.2 million Retirement Savings Account (RSA) holders. The company draws on over two decades of experience in pension administration and fund management.

Commenting on the recognition, Olusakin Labeodan, MD/Chief Executive Officer of Leadway PFA, said, “The pension industry is built on a long-term trust. Every contribution represents an individual’s effort to secure a more comfortable future. As a pension administrator, we have a responsibility to protect that trust through sound fund management, quality service and meaningful engagement with our contributors.

“Being recognized by the marketing communications industry is particularly encouraging. It reflects how our brand is perceived beyond the services we provide and reinforces the importance of building a pension brand on trust, consistency and the quality of our customer relationships. We appreciate this recognition and remain committed to improving the experience of our contributors and raising the standard of service we provide.

The recognition further reinforces Leadway PFA’s commitment to improving the contributor experience through enhanced digital pension services, responsive customer support and clearer communication on retirement planning. These efforts reflect the company’s continued focus on making pension services more accessible and helping Nigerians make informed decisions about their financial future.

The 2026 Brandcom Awards ceremony took place at the Landmark Event Centre in Lagos, following Brandcomfest, which explored the theme “Brand Building, Consumer Connection and Disruptive Realities.” Organised by Brand Communicator, the Brandcom Awards recognise brands, agencies, organisations and professionals across the marketing communications industry, with assessments centered on prestige, integrity and credibility.

The post Leadway PFA Named Most Outstanding PFA Brand of the Year at 2026 Brandcom Awards appeared first on Business Today NG.

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Access Holdings mulls exit from foreign subsidiary to meet CBN rule – Report

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Access Holdings is considering exiting at least one market outside its base in Nigeria to comply with a Central Bank of Nigeria (CBN) rule requiring lenders to limit investment in foreign subsidiaries to no more than one-tenth of shareholders’ funds.

The banking group mentioned one business in which it plans to offload its stake to meet the requirement, Bloomberg reported on Monday, citing Chairman Aigboje Aig-Imoukhuede.

“If a subsidiary cannot meet its cost of capital and the strategic objectives for which it is set up, you should be ready to take a decision to exit,” Mr Aig-Imoukhuede was quoted as saying at an African Financial Industry Summit in Luanda, Angola, last week.

“Do we have one or two troublesome subsidiaries? I can think of one.”

Investment in subsidiaries for Nigeria’s biggest bank by assets stood at N446.6 billion at the end of September, equivalent to 19.3 per cent of its equity, according to Access Holdings’ 9M 2026 Investor Presentation.

That was roughly double the 10 per cent ceiling permitted by the Banks and Other Financial Institutions Act (BOFIA) 2020.

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Only in cases of regulatory approval for a higher threshold from the CBN are lenders allowed to exceed that limit, the Act says.

The banking industry watchdog has given Access Holdings 12 months to address the issue.

The potential exit is part of the financial institution’s move to review its international operations to comply with the directive.

In June, Access Bank’s chief executive, Roosevelt Ogbonna, said the lender would reduce its shareholding in some of its foreign subsidiaries to achieve compliance.

According to Innocent Ike, CEO of Access Holdings, the lender will explore three strategies towards that end.

The options include recalling surplus capital from overseas subsidiaries, offloading minority stakes and restructuring some businesses, he said.

He added that the group has already completed one capital repatriation exercise involving its six targeted subsidiaries, and is engaging regulators in five countries to facilitate the return of excess capital to Nigeria.

Access Holdings plans to meet the regulatory requirement ahead of the March 2027 deadline, Mr Ike stated.

READ ALSO: Access Holdings’ nine-month profit jumps 6% to N474.2 billion

“We gave ourselves up till January next year, and I think we’re completing this ahead of schedule,” said Mr Aig-Imoukhuede.

The Access Holdings’ chairman said the group’s international portfolio remains fundamentally strong despite plans to sell interests in some international subsidiaries.

He noted that the group would continue to review the performance of its subsidiaries to ensure they generate sustainable returns and remain aligned with the strategic objectives for which they were established.

“You have to do dynamic portfolio management. Every year, you’re looking for ways to improve,” he said.

Access Bank sold its 97 per cent stake in its loss-making Ivorian subsidiary to Cameroon’s Afriland First Group SA for $1 million in January 2014, after the CBN restricted parent-bank capital for foreign subsidiaries.


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