Aliko Dangote, President of Dangote Industries Limited, has intensified his criticism of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), accusing its leadership of policies he claims are sabotaging domestic refining and weakening Nigeria’s downstream oil sector.
Addressing journalists at the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, Dangote called for a thorough investigation into the conduct of the NMDPRA’s Chief Executive Officer, Farouk Ahmed, alleging collusion with fuel importers and international traders to frustrate local production.
Dangote further alleged that Ahmed lives far beyond his legitimate income, claiming that four of the regulator’s children attend secondary schools in Switzerland at a combined cost of about $5 million. He said such expenditure raises serious concerns about conflicts of interest and the credibility of regulatory oversight in the sector.
According to Dangote, the continued issuance of petrol import licences despite the availability of local refining capacity amounts to economic sabotage. He argued that these decisions discourage investment in Nigerian refineries and keep the country dependent on fuel imports.
“I am not asking for his removal; I am asking for accountability,” Dangote said. “If he denies paying $5 million in school fees, I am prepared to publish the details and pursue legal steps to establish the facts.”
The industrialist also announced that petrol prices would fall further, disclosing that Premium Motor Spirit would sell for no more than N740 per litre from Tuesday in Lagos, following a reduction in the refinery’s gantry price to N699 per litre. He said MRS filling stations would be the first to reflect the new pricing.
Dangote expressed concern that import licences covering billions of litres of petrol had reportedly been approved for early 2026, warning that such volumes could overwhelm local refiners, including modular operators already struggling to survive.
He described the downstream sector as being under severe strain due to what he called entrenched interests that profit from fuel imports at the expense of national development. He warned that allowing traders to influence regulatory decisions would undermine the integrity of the industry.
“The downstream sector must not be destroyed by personal or commercial interests,” he said, stressing that regulators should not also act as traders.
Dangote maintained that Nigerians would ultimately benefit from local refining through lower prices and better-quality fuel, even if importers incur losses. He added that the refinery had reduced its minimum purchase volume to enable more marketers, including independent operators, to access products directly.
He also disclosed plans to list the Dangote Refinery on the Nigerian Exchange, allowing Nigerians to own shares in the facility, while reaffirming his commitment to ensuring affordable fuel nationwide.
“This refinery is for Nigerians first,” Dangote said. “We will continue to push until the benefits of local refining are fully felt by the people.”
