President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has called for the investigation and possible prosecution of the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, over alleged economic sabotage.
Dangote made the call on Monday while speaking at a press conference at the Dangote Petroleum Refinery. He accused the leadership of the NMDPRA of colluding with international oil traders and fuel importers to frustrate domestic refining through the continued issuance of import licences for petroleum products.
According to Dangote, the actions of the regulator undermine local refining efforts and discourage investment in Nigeria’s downstream petroleum sector. He also alleged that the NMDPRA chief was living beyond his legitimate means.
The Dangote Group chairman expressed concern over Nigeria’s continued dependence on imported petroleum products, describing it as harmful to local production and national development. He disclosed that import licences for about 7.5 billion litres of Premium Motor Spirit (PMS) had reportedly been issued for the first quarter of 2026, despite the availability of significant domestic refining capacity.
He said modular refineries were struggling to survive under the current policy environment, warning that persistent issuance of import permits could push them out of business.
“I am not calling for his removal, but for a proper investigation. He should be made to account for his actions and show that he has not compromised his office to the detriment of Nigerians. What is happening amounts to economic sabotage,” Dangote said, adding that the Code of Conduct Bureau or any other relevant agency could investigate the matter.
Meanwhile, Dangote assured Nigerians of further reductions in the pump price of petrol, stating that PMS would sell for no more than N740 per litre from Tuesday, starting in Lagos. He attributed the expected price drop to the refinery’s reduction of the gantry price to N699 per litre, noting that MRS filling stations would be the first to reflect the new price.
He added that the refinery had reduced its minimum purchase requirement from two million litres to 500,000 litres to allow more marketers, including independent marketers, to participate.
Dangote stressed the need for a clear separation between regulatory and commercial interests in the downstream sector, warning that allowing traders to influence regulation would undermine the integrity and sustainability of the industry.
