President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has called on 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 allegedly undermining domestic refining.
Dangote made the allegation on Monday while addressing journalists at the Dangote Petroleum Refinery, accusing the leadership of the NMDPRA of working in concert with international oil traders and fuel importers to frustrate Nigeria’s local refining efforts.
According to him, the continuous approval of import licences for petroleum products is deliberately weakening domestic refining capacity and discouraging investment in the downstream sector.
He further alleged that the NMDPRA chief was living beyond his legitimate income, raising serious concerns about the integrity of regulatory oversight in Nigeria’s petroleum industry.
“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, suggesting that agencies such as the Code of Conduct Bureau could be mandated to carry out the probe.
Despite the criticisms, Dangote reassured Nigerians that petrol prices would continue to decline, announcing that the pump price of Premium Motor Spirit (PMS) would not exceed ₦740 per litre from Tuesday, beginning in Lagos.
He explained that the price reduction followed the refinery’s decision to slash its gantry price to ₦699 per litre, with MRS filling stations expected to be the first to reflect the new pricing regime.
Dangote expressed deep concern over the structure of Nigeria’s downstream petroleum sector, warning that continued dependence on imported fuel was stifling local production and undermining national economic development.
He revealed that import licences covering about 7.5 billion litres of PMS had reportedly been approved for the first quarter of 2026, despite the availability of substantial local refining capacity.
According to him, the prevailing policy environment has placed modular refineries under intense pressure, pushing many to the brink of collapse.
Dangote also criticised what he described as the dominance of powerful interests in the downstream sector who profit from fuel imports at the expense of Nigeria’s long-term economic interests.
He stressed the need for a clear separation between regulatory and commercial roles, warning that allowing traders to influence regulatory decisions would erode confidence in the industry.
“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.
Reaffirming his commitment to ensuring Nigerians benefit fully from domestic refining, Dangote disclosed that the refinery has reduced its minimum PMS purchase requirement from two million litres to 500,000 litres. This, he said, would enable more marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to lift products directly.
“So, any marketer coming to the refinery today can lift PMS at ₦699 per litre,” he added.
Dangote maintained that while fuel importers may incur losses, Nigerians stand to gain significantly from sustained local refining, lower prices, and a more stable downstream petroleum sector.
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