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 alleged economic sabotage and actions he claims are undermining domestic refining in Nigeria.
Dangote made the call while addressing journalists at the Dangote Petroleum Refinery, accusing the leadership of the NMDPRA of colluding with international oil traders and fuel importers to frustrate local refining initiatives. According to him, the continuous approval of import licences for petroleum products is deliberately weakening Nigeria’s domestic refining capacity.
The industrialist also alleged that the NMDPRA chief was living beyond his legitimate income, raising concerns about the integrity and credibility of regulatory oversight in the downstream petroleum sector.
Despite his criticisms, Dangote assured Nigerians that fuel prices would continue to decline. He announced that the pump price of Premium Motor Spirit (PMS) would not exceed N740 per litre from Tuesday, starting 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 implement the new pricing.
Dangote expressed concern over the structure of Nigeria’s downstream petroleum industry, warning that the country’s reliance on imported fuel continues to stifle local production and discourage investment in domestic refining. 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 significant local refining capacity.
According to him, the prevailing policy environment has placed modular refineries under severe pressure, pushing many to the brink 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, suggesting 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, still depend heavily on imported refined products despite repeated calls for value addition and local refining.
According to him, the volume of fuel imports being approved is unethical and harmful to Nigeria’s economic interests. He stressed the need to clearly separate regulatory functions from commercial activities, warning that allowing traders to influence regulatory decisions would undermine 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.
Dangote maintained that Nigerians stand to gain significantly from local refining, even as fuel importers incur losses. He reaffirmed his commitment to ensuring that citizens enjoy the benefits of domestic refining, noting that the refinery is working to ensure that gantry price reductions translate into lower pump prices nationwide.
From Tuesday, he said, MRS filling stations in Lagos would begin selling 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, allowing 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 N699 per litre,” Dangote added.
Nigerian Newssphere Dangote Refinery last week reduced gantry fuel pump price to N699 per litre. However, despite the gantry price drop by Dangote Refinery retail fuel prices have remained between N905 per litre and N937 in Abuja Nigeria.
