Africa-Press – Nigeria. President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has urged the Federal Government to investigate and prosecute the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Engr. Farouk Ahmed, over allegations of economic sabotage and actions he claims are undermining domestic refining in Nigeria.
Dangote made the call while addressing journalists at the Dangote Petroleum Refinery, where he accused the leadership of the NMDPRA of working in concert with international oil traders and fuel importers to frustrate local refining efforts.
He alleged that the continuous approval of import licences for petroleum products was deliberately weakening Nigeria’s refining capacity.
The industrialist also claimed that the NMDPRA chief was living beyond his legitimate income, further raising concerns about the integrity of regulatory oversight in the downstream petroleum sector.
Despite his criticisms, Dangote reassured Nigerians that petrol prices would continue to decline, announcing that the pump price of Premium Motor Spirit, PMS, would not exceed N740 per litre from Tuesday, beginning in Lagos.
He explained that the reduction follows the refinery’s decision to cut its gantry price to N699 per litre, with MRS filling stations expected to be the first to reflect the new pricing.
Dangote expressed deep concern over the structure of Nigeria’s downstream petroleum industry, warning that the country’s continued dependence on imported fuel was stifling local production and discouraging investment in domestic refining.
He revealed that import licences amounting to about 7.5 billion litres of PMS had reportedly been approved for the first quarter of 2026, despite the existence of substantial local refining capacity.
According to him, the policy environment has placed modular refineries under severe pressure, pushing many to the verge of collapse.
“I am not asking for his removal, but for a transparent investigation. He should be made to explain his actions and prove that his office has not been compromised.
“What we are witnessing amounts to economic sabotage,” Dangote said, adding that agencies such as the Code of Conduct Bureau could be tasked with conducting the probe.
He further described the downstream sector as being dominated by powerful interests that profit from fuel imports at the expense of national development.
Dangote lamented that many African countries, including Nigeria, continue to rely on imported refined products despite longstanding calls for value addition and local refining.
According to him, the volume of fuel imports being permitted into the country is unethical and undermines Nigeria’s economic interests.
Dangote stressed the importance of clearly separating regulatory responsibilities from commercial activities, warning that allowing traders to influence regulatory decisions would erode confidence in the sector.
“The downstream industry must not be sacrificed to personal interests. A trader should never act as a regulator. Dozens of licences have been issued, yet no new refineries are emerging because the operating environment is hostile,” he said.
He maintained that Nigerians stand to benefit significantly from local refining, even as fuel importers bear losses.
Dangote reaffirmed his commitment to ensuring that citizens enjoy the full benefits of domestic refining, noting that the company is working tirelessly to ensure that recent gantry price reductions translate to lower pump prices nationwide.
From Tuesday, he said, MRS filling stations in Lagos would commence the sale of PMS at prices not exceeding N740 per litre.
He also disclosed that the refinery has reduced its minimum purchase requirement from two million litres to 500,000 litres, enabling more marketers, including members of the Independent Petroleum Marketers Association of Nigeria, IPMAN, to access products directly.
“So, any marketer coming to the refinery today can lift PMS at N699 per litre,” Dangote added.
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