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The refinery had also sought $66 million in damages. In March this year, the Federal High Court dismissed a bid by the NNPC and three of the oil marketers to reject the case, allowing Dangote’s suit to proceed.
Dangote Refinery has dropped its lawsuit aimed at compelling the Nigerian authorities to restrict fuel imports into the country. It wanted import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority to the state-owned oil and gas company, the NNPC, and several importers nullified.
Dangote had argued that the regulatory authority was in breach of the law by continuing to grant the permits. It said imports were only legally allowed to cover production shortfalls, a threshold it said was no longer applicable as its massive refinery had begun producing petrol.
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The refinery had also sought $66 million in damages. In March this year, the Federal High Court dismissed a bid by the NNPC and three of the oil marketers to reject the case, allowing Dangote’s suit to proceed.
