“A Calculated Attempt to Damage Our Reputation”: Masters Energy Addresses Expired Rice Import Claims

Masters Energy Group has strongly denied recent social media allegations that the company imported expired rice for distribution in Nigeria. In a press release issued today, the company categorically called these claims “baseless” and a calculated attempt to harm its reputation.

The Nigerian-based company, widely known for its role in the consumer goods sector with rice and wine as flagship products, clarified that while it did order a shipment of rice in 2016, that consignment never reached the market. According to Masters Energy, after securing regulatory inspection and approval from an international agent, the rice shipment was en route to Lagos when Nigeria imposed a restriction on certain imports, including rice—a policy commonly known as the “Ban on 41 Items.” This restriction prevented the company from clearing the shipment at Tin Can Island Port.

Over the following months, the company says it made extensive efforts to secure a waiver from the Central Bank of Nigeria and Nigerian Customs. Unfortunately, the shipment was eventually seized by Customs in August 2016, leading to a reported financial loss of over N1.2 billion.

The rice shipment remained at the port for years, eventually degrading due to prolonged exposure to heat and environmental elements. In 2019, the then-Customs Comptroller General discovered the containers at Tin Can Port and initially suspected them to be part of a recent import. However, upon further inspection, the Customs agency confirmed that the rice had been abandoned since 2016, effectively clearing Masters Energy of any wrongdoing or involvement in attempts to distribute expired goods.

Despite these findings, Masters Energy says the story has been distorted online by “merchants of fake news” seeking to misrepresent the facts. Through its legal counsel, Barrister M.O. Ubani, SAN, the company has released an official statement emphasizing its adherence to import regulations and commitment to quality.

“We have never imported, nor intended to import, expired rice into the Nigerian market,” the statement affirmed. Masters Energy has demanded the immediate retraction of the false information and a public apology from those spreading the allegations.

The company expressed its gratitude to stakeholders for their continued trust and reaffirmed its commitment to operating with integrity and transparency.