The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has accused the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed, of undermining domestic refining in Nigeria.
Consequently, he called for the investigation and prosecution of the NMDPRA boss for economic sabotage.
Officials of Dangote Refinery had in July accused international oil companies (IOCs) of denying the refinery purchase of crude oil.
But in a counterclaim, Ahmed said the refinery’s diesel in the market was inferior quality compared to the imported ones.
Speaking at a press conference held at the Dangote Petroleum Refinery on Sunday, Dangote accused the leadership of the NMDPRA of colluding with international traders and oil importers to frustrate local refining through the continued issuance of import licences for petroleum products.
He alleged that Ahmed was living beyond his legitimate means, saying four of his children attend secondary schools in Switzerland at costs running into several million dollars.
He said such expenditure raised serious questions about potential conflicts of interest and the integrity of regulatory oversight in the downstream petroleum sector.
The Dangote Group chairman 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 his refinery’s reduction of the gantry price to N699 per litre. He said MRS filling stations would be the first to reflect the new pricing.
Expressing concern over the state of the downstream sector, Dangote said Nigeria’s continued reliance on fuel imports was harming local production and discouraging investment in domestic refining. He disclosed that import licences covering approximately 7.5 billion litres of PMS had reportedly been issued for the first quarter of 2026, despite the availability of significant domestic refining capacity.
According to him, modular refineries are already struggling under the current policy environment and on the brink of extinction, while the persistent issuance of import permits further weakens the sector.
“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.
He further alleged that Farouk paid as much as five million dollars in tuition fees for his children’s secondary education in Switzerland, questioning how many Nigerians could afford such costs.
“The Code of Conduct Bureau, or any other body deemed appropriate by the government, can investigate the matter. If he denies it, I will not only publish the tuition he paid at those secondary schools, but I will also take legal steps to compel the schools to disclose the payments made by Farouk.
I sent my own children to secondary schools here in Nigeria. How many Nigerians can afford to pay five million dollars for secondary school tuition, not university education? In his home state of Sokoto, many parents are struggling to pay as little as N10,000 in school fees,” Dangote said.
He described the downstream petroleum sector as being under severe strain, alleging the presence of entrenched interests that profit from fuel imports at the expense of national development.
“There are powerful interests in the oil sector. It is troubling that African countries continue to import refined products despite long-standing calls for value addition and domestic refining. The volume of imports being allowed into the country is unethical and does a disservice to Nigeria,” he added.
Dangote stressed the need for a clear separation between regulatory oversight and commercial interests, warning that allowing traders to influence regulation would undermine the integrity of the sector.
“The downstream sector must not be destroyed by personal interests. A trader should never be a regulator. Forty-seven licences have been issued, yet no new refineries are being built because the environment is not conducive,” he said.
1SUBSCRIBE TO OUR NEWSLETTER NOW
Support MATAZ ARISING’ journalism of integrity and credibility.
Good journalism ensure the possibility of a good society, an accountable democracy, and a transparent government.
We ask you to consider making a modest support to this noble endeavour.
TEXT AD: To advertise here – Email ad@matazarising.com
LATEST POSTS
-
Peter Obi Faces Petition for Allegedly Travelling with Passenger Using Fake Identities
MaTaZ ArIsInGDallas, Texas A fresh petition has been submitted to the Minister of Aviation and Aerospace Development, Festus Keyamo, calling for an investigation into Nigeria Democratic Congress (NDC) presidential candidate Peter Obi over allegations that he repeatedly travelled with a passenger who allegedly used fake identities to board flights. The petition, dated July 12, 2026,…
-
Afrophobia: Should Nigeria ask South African companies to leave?
MaTaZ ArIsInGDallas, Texas Monday Lines 2 Afrophobia: Should Nigeria ask South African companies to leave? By Lasisi Olagunju (Published in the Nigerian Tribune on Monday, 6 July, 2026). Jacob Zuma was President of South Africa when he declared on October 21, 2013 that South Africa should not “think like Africans in Africa, generally.” The remark,…
-
Why I did not take Brazil’s penalty against Norway – Vinicius
MaTaZ ArIsInGDallas, Texas Brazil’s hopes of ending their long wait for World Cup glory came to a painful end after a 2-1 defeat to Norway in the Round of 16, with Erling Haaland scoring twice to eliminate the five-time champions. The aftermath of the defeat was dominated by questions over why Vinicius Júnior did not…
