Nigerian court orders regulator to keep issuing fuel import licences

A Nigerian court ordered the country’s downstream ​petroleum regulator to continue issuing ‌fuel import licences and related permits to three oil marketing firms, saying ​any refusal would be inconsistent ​with provisions of the Petroleum Industry ⁠Act (PIA), court documents showed on ​Monday.

“The consequences of non-compliance with ​the PIA and relevant laws make any exercise by the Authority in respect to ​import licences null and void,” ​said judge Inyang Ekwo of the federal ‌high ⁠court in the capital Abuja.

Filed in June by Matrix Energy, AA Rano and AYM Shafa, the ​lawsuit challenges ​the Nigerian ⁠Midstream and Downstream Petroleum Regulatory Authority’s handling of ​fuel import licences.

The marketers told ​the ⁠court they had invested more than $20 billion in infrastructure, logistics and ⁠retail ​networks to support ​their licensed fuel distribution businesses across Nigeria.