Report accusing us of importing substandard product, wicked, misleading - Matrix Energy Group

Nigeria's leading indigenous oil and gas company, Matrix Energy Group (MEG) has described as false, wicked and misleading report accusing the company of importing substandard product.

The company dismissed the report, noting that since it ventured into the nation's oil and gas industry it has not imported substandard petroleum products into the country.

According to a statement issued by management of Matrix Energy Group, the company restated its commitment to continue to adhere strictly to rules and regulations of the oil sector.

The statement maintained that Matrix only imports products that meet the approved specifications by the Federal Government. 

It further stated that none of its millions of customers had recorded any incident of buying bad fuel from any of its sales outlets across the country.

According to it, "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 on 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 (FCT). Our company is recognized and approved by global international companies, national oil companies, major construction firms, and various end-users. Our consistent ability to deliver on all contracts at competitive prices has solidified our strong position in the industry today.

"The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is the sole regulatory body empowered by the Petroleum Industry Act (PIA) to issue import licenses and enforce the Standards Organization of Nigeria (SON) product specifications. Matrix Energy has consistently imported products that meet the approved specifications, and we have never been found wanting in this regard. 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. This success is equally reflected in our fertilizer businesses.

"Our depots boast a storage capacity of 150 million liters of liquid products, including LPG and bitumen. However, 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 (NNPCL) 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. As a people oriented company that operates above board and in line with international best practices, we welcome constructive criticisms.

"Our Chief Executive Officer, Abdulkabir Adisa Aliu is a talented and dedicated Nigerian with the right to associate freely as well as trade freely in any part of the world. Like he stated in his presentation before the Nigerian Senate, we are not aware that Nigerian companies have been banned from bringing in legitiate and standard products from outside the country and until such is done, we will continue to serve the public with best quality products. Those who know our CEO understands 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."

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