Oil firm denies importing substandard products

Matrix Energy Group has denied claims of importing substandard petroleum products into the country, insisting that its products have consistently met approved specifications.

The oil marketing and trading company clarified in response to an online publication that Matrix Energy is one of the biggest fuel importers via Malta, a tiny European country.

The Chairman of Dangote Industries Limited, Aliko Dangote, had alleged some personnel of Nigerian National Petroleum Company Limited, oil traders and terminals have opened a blending plant in Malta.

This was immediately denied by the group chief executive officer, NNPCL, Mele Kyari.

Nigeria’s petroleum importation from Malta surged significantly to $2.8 billion in 2023, compared to zero between 2017 and 2022, and a mere $13.32 million in 2016.

However, in its official reaction, the management of Matrix Energy, affirmed that it has never imported or distributed any substandard cargo in the company’s two decades of operation.

A statement signed by the Head Corporate Communications, Matrix Energy Group, Ibrahim Akinola, on Saturday, explained that the company did not discharge 200,000 metric tons of PMS into its facility in July 2024 as claimed by the news report.

The statement read, “Our attention has been drawn to a recent online publication where our name was featured. We would have loved to ignore the tissue of lies spewed in the publication but the need to set the records straight and facts from sensation behoves us to address the matter, as well as the need to protect and uphold the integrity of the brand and reputation we have meticulously built over the past 20 years.

“Matrix Energy Group is a wholly indigenous and independent oil marketing and trading company, with substantial investments in strategic infrastructure, including vessels, oil and gas terminals, trucks, and retail outlets across 28 states, including the Federal Capital Territory.

“We have consistently imported products that meet the approved specifications, and we have never been found wanting. 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.”

According to the statement, the company said it has followed laid down procedures issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in importing fuel products and has never been found wanting.

It added that the recently introduced Utapate crude oil blend from OML 13 was obtained through a bidding process and any company that wins the tender is operating within the law.

The statement added, “The Nigerian Midstream and Downstream Petroleum Regulatory Authority is the sole regulatory body empowered by the Petroleum Industry Act to issue import licenses and enforce the Standards Organization of Nigeria product specifications.

“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.

“It is important to note that the Nigerian National Petroleum Corporation Limited recently introduced its Utapate crude oil blend from OML 13. 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.”

The company also denied any wrongdoing by its Chief Executive Officer, Abdulkabir Adisa, stressing that its CEO, “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 is done, we will continue to serve the public with the best quality products.

“Those who know our CEO understand that he is far from lazy; rather, he is deeply committed to making a positive impact.

“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 in the Renewed Hope Agenda, for which he remains deeply grateful.

“Matrix Energy Group remains steadfast in our commitment to supporting Nigeria by ensuring the availability of petroleum products at competitive prices, in alignment with Mr President’s vision for the country.”