President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has called for an investigation into the leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), accusing its Chief Executive Officer, Engr. Farouk Ahmed, of actions he described as economic sabotage.
Speaking at a press conference at the Dangote Petroleum Refinery, Dangote alleged that the NMDPRA was colluding with international oil traders and fuel importers to undermine local refining through the continued issuance of petroleum import licences. He claimed that these practices discourage investment in domestic refining and weaken Nigeria’s downstream sector. Dangote also alleged that the NMDPRA boss was living beyond his legitimate means and urged appropriate government agencies to investigate.
Despite the allegations, Dangote assured Nigerians of further reductions in fuel prices, announcing that Premium Motor Spirit (PMS) would sell for no more than ₦740 per litre from Tuesday, starting in Lagos, following a reduction in the refinery’s gantry price to ₦699 per litre. He said MRS filling stations would be the first to reflect the new price.
Dangote expressed concern over Nigeria’s continued dependence on fuel imports, revealing that licences for about 7.5 billion litres of PMS had reportedly been issued for the first quarter of 2026, even with sufficient local refining capacity. He warned that modular refineries were struggling under current policies and risk extinction.
He stressed the need for a clear separation between regulation and commercial interests, insisting that Nigerians would ultimately benefit from domestic refining. Dangote added that the refinery had reduced its minimum purchase requirement to enable more marketers to participate and reaffirmed his commitment to ensuring fuel price reductions reach consumers.