Matrix Energy Group has rebutted allegations of importing below-par petroleum products into the nation, asserting that their products consistently adhere to approved standards.
Responding to an online article, the oil marketing and trading company clarified that it is a major fuel importer through Malta, a small European country.
Aliko Dangote, Chairman of Dangote Industries Limited, had accused some individuals from Nigerian National Petroleum Company Limited, oil traders, and terminals of establishing a blending plant in Malta.
The Group Chief Executive Officer of NNPCL, Mele Kyari, promptly refuted these claims.
Nigeria’s petroleum imports from Malta saw a notable increase to $2.8 billion in 2023, in comparison to zero between 2017 and 2022, and a mere $13.32 million in 2016.
Nevertheless, Matrix Energy’s management officially stated that in its twenty years of operation, it has never imported or distributed any substandard cargo.
In a press release signed by the Head of Corporate Communications at Matrix Energy Group, Ibrahim Akinola, it was clarified that the company did not unload 200,000 metric tons of PMS at its facility in July 2024 as alleged in the news report.
The statement emphasized, “We have observed a recent online publication mentioning our company. Though normally we would have ignored the unfounded claims made in the publication, the imperative to set the record straight and distinguish facts from sensationalism prompts us to address the issue. This is crucial in safeguarding the brand’s integrity and the reputation we have diligently cultivated over the past two decades.
“Matrix Energy Group is an entirely local and independent oil marketing and trading firm with significant investments in crucial infrastructure such as vessels, oil and gas terminals, trucks, and retail outlets across 28 states, including the Federal Capital Territory.
“We consistently import products that meet the approved standards and have never fallen short. The demand for Matrix products often surpasses our supply capacity, underlining our reputation for reliability.”
According to the statement, the company affirmed adherence to procedures set by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in importing fuel products, with no history of discrepancies.
The announcement added, “The recent introduction of the Utapate crude oil blend from OML 13 followed a bidding process, and any company winning the bid is operating lawfully.”
“The Nigerian Midstream and Downstream Petroleum Regulatory Authority is the sole regulatory body authorized by the Petroleum Industry Act to issue import licenses and enforce product specifications set by the Standards Organization of Nigeria.
“Contrary to the assertions made in the aforementioned publication, the claim of us unloading 200,000 metric tons of PMS at our facility in July 2024 is false. Although we have the capability and demand to handle such volumes, Matrix Energy has never dealt with substandard cargo in our two decades of operations. Our quality inspections have never been questioned by regulators and Nigerians who have come to trust us as their partner.
“It is crucial to note that the Nigerian National Petroleum Corporation Limited recently introduced its Utapate crude oil blend from OML 13. NNPC usually tenders its free crude cargoes, and any company winning the tender is acting within the law. Similar to other firms, Matrix Energy also won these tenders.”
The company also refuted any misconduct by its Chief Executive Officer, Abdulkabir Adisa, emphasizing that the CEO, “Is a talented and dedicated Nigerian with the freedom to associate and trade globally. As affirmed in his testimony to the Nigerian Senate, we are not aware of any ban on Nigerian companies for importing legitimate and standard products from abroad. Until such a ban is imposed, we will continue serving the public with top-notch products.
“Those familiar with our CEO acknowledge his proactive attitude rather than laziness, as he strives to make a positive impact.
“His selection by the President to serve on the Economic Coordination Council signifies recognition of his dedication to shared values and commitment to Nigeria’s progress under the Renewed Hope Agenda, a gesture he deeply appreciates.
“Matrix Energy Group remains resolute in supporting Nigeria by ensuring the availability of petroleum products at competitive prices, aligning with the President’s vision for the nation.”