Centre Faults Attack On Matrix Energy Group

A civil society organisation, Centre for Public Accountability (CPA), has expressed concern over what it called troubling development regarding recent activities within Nigeria’s energy sector.

The Centre in a statement by its spokesman, Ebenezer Oluwole, claimed it uncovered plans in the oil and gas sector to undermine the operations of Matrix Energy Group, a leading player in petroleum supply and distribution chain in Nigeria.

It said the attack on Matrix Energy was indicative of a larger and more concerning trend of ongoing efforts to monopolise Nigeria’s energy sector.

The Centre said: “The latest actions against Matrix Energy are not isolated incidents but rather part of a series of desperate attempts by some oil and gas majors to extend dominance over the energy market.

“This pattern mirrors past behaviour in other industries, where it has systematically dismantled competitors to secure monopolistic control. The consequences of such tactics are not only harmful to individual companies but detrimental to the broader market competition and consumer interests.

“Adding complexity to the situation, it has come to our attention that another company also involved in the petroleum sector, has also been importing fuel from Malta, a similar source to Matrix Energy’s supply.

“The situation is further compounded by a recent report from an online medium Daily Nigerian. This report alleges that the allegations that Matrix Energy has been involved in substandard fuel importation from Malta and Russia, is sponsored by a Nigerian billionaire, who is behind the smear campaign.

“Our investigation indicates that those behind these damaging claims against Matrix Energy, aimed at discrediting and destabilizing the company.

“We hereby at this point, call upon relevant authorities to thoroughly investigate these allegations. The integrity of Nigeria’s energy sector must be safeguarded against monopolistic practices that threaten to stifle competition and harm consumers.

“Transparency and fairness in business practices are critical to maintaining a healthy and competitive market environment.”

The CSO urged all stakeholders, including regulatory bodies and industry participants, to take a stand against the underhand tactics, saying it was essential to ensure that all players in the energy sector can operate on a level playing field, free from intimidation and sabotage.

“We must work together to uphold the principles of fair competition and protect the interests of both businesses and consumers alike. We also encourage the public and the media, in particular, to remain vigilant and critical of such developments.

“Unchecked corporate dominance can have far-reaching negative impacts, and it is crucial to address these issues transparently and promptly. As always, CPA remains committed to advocating for transparency and fairness in the energy sector.

“We stand firmly against any efforts to monopolize or destabilize Nigeria’s energy sector through unethical and aggressive tactics. We will continue to monitor the situation closely and take necessary actions to protect the integrity of the industry and the overall interest of all Nigerians,” CPA added.