Different claims have been flying around on social media that Oando PLC has a blending plant in Malta.
The energy business denied using Raz Hansir Oil Terminal Limited, a Maltese entity, to import unclean fuel into Nigeria.
The claims made against Oando of being a shareholder and its principals of being board members of Raz Hansir Oil Terminal Limited, a business that runs an oil storage and blending facility in charge of bringing tainted petroleum products into Nigeria, were deemed baseless, according to a statement released by the company secretary, Ayotola Jagun.
“We wish to dispute such allegations and state unequivocally that neither Oando PLC nor its executives have ever possessed shares, investments, or interests in the phoney Maltese firm.
“As part of a thorough examination into the origins of the bogus allegations, we searched the Malta Business Registry, the official repository for all registered organisations past and present in the country. We found no results for a firm with that name. Subsequent due diligence attempts also failed to find any evidence of the company’s existence.
“We therefore believe that the false claims are of the malicious intent of misleading the public and our stakeholders,” . The business reiterated that, as a publicly traded company, any corporate actions, such as acquisitions, are publicly disclosed in compliance with applicable corporate governance laws and regulations.
“Furthermore, information released about a publicly traded firm, such as Oando, must be thoroughly studied and judged accurate before being put in the public domain.
The NGX and JSE are the two exchanges where the company’s securities are traded every day. We kindly ask the media to take appropriate measures to verify the accuracy of reports by directing all enquiries to Oando PLC’s Corporate Communications department, in order to avoid disinformation and confusion among investors and other stakeholders, Jagun added.
Following claims made by Aliko Dangote, (President of the Dangote Group)that certain officials of the Nigerian National Petroleum Company Limited possess blending plants in Malta, Malta and its oil have recently come up for discussion.
In the midst of the controversy surrounding his $20 billion refinery, Dangote made the following statement:
“Some traders, some NNPC employees, and some terminals have opened blending plants somewhere off Malta.
“These are places that we are all familiar with. Dangote stated, “We are aware of what they are doing.
According to Trade Map data, Nigeria imported fuel was valued at $2 billion in 2023 alone.
Mele Kyari, the NNPC’s group chief executive officer, had earlier declared that he did not control any blending facilities outside of Nigeria.
Kyari added that he had received numerous calls from family and friends enquiring if he genuinely owned a blending factory in Malta.
Dangote has spoken out in response to allegations made by Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, that the diesel produced by the Dangote refinery had a higher sulphur content than imported diesel, which Dangote described as an attempt to demarket his refinery.
Ahmed also stated that the country would continue to buy fuel to end the Dangote monopoly.
In Essence
The allegations against Oando are part of a larger narrative involving claims by Aliko Dangote about blending plants owned by Nigerian entities outside the country.
This context suggests a potentially broader issue within the oil and gas industry that may require regulatory scrutiny and transparency to ensure fair practices.
