President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has called for an investigation into the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed, over alleged actions harming Nigeria’s downstream petroleum sector.
Dangote spoke on Sunday at a press briefing held at the Dangote Petroleum Refinery. He accused the regulator of encouraging fuel imports at the expense of local refining.
According to him, issuing import licences despite available local supply is discouraging investment and pushing indigenous refineries to the brink.
“I am not asking for his removal. I am asking for a proper investigation. He should account for his actions. What is happening amounts to economic sabotage,” Dangote said.
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He also alleged possible conflicts of interest, claiming that the NMDPRA boss lives far above his official income, including paying millions of dollars in tuition fees for his children’s secondary education in Switzerland.
“The Code of Conduct Bureau or any appropriate agency can investigate. If he denies it, I will publish the tuition payments and take legal steps to confirm them,” he said.
Dangote announced that petrol prices would drop further from Tuesday.
He said Premium Motor Spirit (PMS) would sell below ₦740 per litre in Lagos, following a cut in the refinery’s gantry price to ₦699 per litre. He added that MRS filling stations would reflect the new price first.
“So if you come to the refinery today, you will get PMS at ₦699 per litre,” he said.
Dangote expressed concern that import licences covering about 7.5 billion litres of PMS had reportedly been issued for early 2026, despite sufficient local refining capacity.
“The downstream sector must not be destroyed by personal interests. A trader should never be a regulator,” he said.
He added that the refinery had reduced its minimum purchase volume from two million litres to 500,000 litres to allow more marketers, including members of IPMAN, to participate.
Dangote said plans were also in place to deploy CNG trucks nationwide to ensure that price cuts reach consumers.
He stressed that the refinery was built for Nigerians, not to protect fuel importers.
“This refinery is for Nigerians first, and I am not giving up,” he said.