President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has called for the investigation and prosecution of the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed accused him of economic sabotage, claiming it undermines domestic refining in Nigeria.
Yesterday, at a press conference at the Dangote Petroleum Refinery, Dangote accused the NMDPRA leadership of working with international traders and oil importers to prevent local refining by continuing to issue import licenses for petroleum products. Dangote stated that Engineer Ahmed was living beyond his means. The Dangote Group chairman, however, assured Nigerians that the pump price of Premium Motor Spirit (PMS) would fall further, stating that petrol would sell at no more than N740 per litre from Tuesday, beginning in Lagos, due to the refinery’s reduction of the gantry price to N699 per litre. According to him, the new prices would first be displayed at MRS gas stations. Dangote stated that Nigeria's continued reliance on fuel imports hinders local production and discourages investment in domestic refining. He expressed concern about the state of the downstream sector. He disclosed that, despite the availability of significant domestic refining capacity, import licenses covering approximately 7.5 billion liters of PMS had reportedly been issued for the first quarter of 2026. He claims that the persistent issuance of import permits further weakens the industry, while modular refineries are already struggling under the current policy environment and are on the verge of going out of business. “I am not calling for his removal, but for a proper investigation. He should be required to account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians. What is happening amounts to economic sabotage,” Dangote said.
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