President of the Dangote Industries Limited, Alhaji Aliko Dangote, has launched a fresh offensive against the regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), insisting the leadership of the authority is sabotaging efforts at boosting local refining.
At a press conference on Sunday, at the Dangote Petroleum Refinery, he said imports were being used to checkmate domestic potential, creating jobs abroad while Nigerians struggle to industrialize.
“You don’t use imports to checkmate domestic potentials”, he said. Dangote then accused the leadership of the NMDPRA of frustrating local refining through the continued issuance of petroleum product import licences, “despite growing domestic refining capacity”.
According to Dangote, the regulator’s actions have sustained Nigeria’s dependence on fuel imports and discouraged investment in local refining.
Dangote doubled down on his criticism of the regulator, calling for the investigation of the Chief Executive Officer of the NMDPRA, Engr Farouk Ahmed.
He claimed that import licences covering about 7.5 billion litres of Premium Motor Spirit (PMS) had reportedly been issued for the first quarter of 2026, even as local refiners struggle to operate profitably.
Dangote also alleged that Engr. Ahmed was living beyond his legitimate means, citing claims that four of his children attend secondary schools in Switzerland at a cost of several million dollars.
He said the allegations raise serious concerns about conflicts of interest and the integrity of regulatory oversight in the downstream petroleum sector.
“I am not calling for his removal, but for a proper investigation,” Dangote said, adding, “He should be required to account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians.”
He urged the Code of Conduct Bureau and other relevant agencies to investigate the matter, adding that he was prepared to provide evidence to support his claims if challenged.
Dangote warned that continued importation of refined products was harming local production and placing modular refineries on the brink of collapse. He also criticised what he described as entrenched interests benefiting from fuel imports at the expense of national development.
On pricing, Dangote assured Nigerians that the pump price of PMS would fall further, announcing that petrol would sell at no more than N740 per litre from Tuesday, starting 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 implement the new price.
He added that the refinery had reduced its minimum purchase requirement to enable more marketers to participate and was prepared to deploy its Compressed Natural Gas (CNG) trucks nationwide to ensure affordability.
Dangote maintained that Nigerians would ultimately benefit from domestic refining, even as fuel importers incur losses. He reiterated plans to list the Dangote Petroleum Refinery on the Nigerian Exchange to allow Nigerians to own shares in the facility. “This refinery is for Nigerians first. I am not giving up,” he added.
There has not been any official comment from the NMDPRA on the allegations as of press time. When contacted, the spokesperson of the NMDPRA, George Ene-Ita, said no comment.
DAILY TRUST.
