Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, has publicly urged the Federal Government to initiate a full investigation and prosecution against the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed.
Speaking to journalists on Sunday, the 14th of December, 2025, at the Dangote Petroleum Refinery, Dangote leveled serious accusations against the NMDPRA’s head, claiming his actions constitute economic sabotage and are actively undermining domestic refining in Nigeria.
The industrialist expressed deep concern over the structure of Nigeria’s downstream petroleum industry, arguing that the nation’s persistence in relying on imported fuel is severely stifling local production and discouraging essential investment in domestic refining.
Dangote explicitly accused the NMDPRA leadership of operating in concert with international oil traders and fuel importers to frustrate local refining efforts. He alleged that the persistent approval of import licences for petroleum products is intentionally weakening Nigeria’s refining capacity.
He revealed that import licences reportedly amounting to about 7.5 billion litres of PMS have been approved for the first quarter of 2026, despite the existence of substantial local refining capacity.
The business mogul warned that this policy environment has placed modular refineries under severe pressure, reportedly pushing many to the verge of collapse.
Beyond the alleged anti-refining policies, Dangote also claimed that the NMDPRA chief was living beyond his legitimate income, raising further red flags regarding the integrity of regulatory oversight within the downstream petroleum sector.
He clarified that his request is not for an immediate dismissal but for due process: “I am not asking for his removal, but for a transparent investigation. He should be made to explain his actions and prove that his office has not been compromised.”
“What we are witnessing amounts to economic sabotage,” Dangote stated, suggesting that agencies such as the Code of Conduct Bureau could be tasked with conducting the probe.
Dangote emphasized the ethical imperative of protecting national economic interests, describing the NMDPRA-approved volume of fuel imports as unethical because it undermines Nigeria’s economic interests. He further lamented that many African countries, including Nigeria, continue to rely on imported refined products despite longstanding calls for value addition and local refining.
The industrialist stressed the critical importance of clearly separating regulatory responsibilities from commercial activities. He issued a stern warning that allowing traders to influence regulatory decisions would inevitably erode confidence in the sector.
“The downstream industry must not be sacrificed to personal interests. A trader should never act as a regulator. Dozens of licences have been issued, yet no new refineries are emerging because the operating environment is hostile,” he maintained.
He concluded that the downstream sector is currently dominated by powerful interests that profit from fuel imports at the expense of national development.
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Despite the weighty criticisms, Dangote reassured Nigerians that petrol prices are on a downward trend. He announced a significant price drop, stating that the pump price of Premium Motor Spirit (PMS) would not exceed N740 per litre from Tuesday, the 16th of December, 2025, beginning in Lagos.
This reduction follows the refinery’s internal decision to cut its gantry price to N699 per litre. MRS filling stations are anticipated to be the first to reflect the new pricing, starting Tuesday, the 16th of December, in Lagos.
To ensure widespread access, Dangote also disclosed that the refinery has drastically reduced its minimum purchase requirement from two million litres to 500,000 litres, enabling more marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to access products directly.
“So, any marketer coming to the refinery today can lift PMS at N699 per litre,” he added.
Dangote reaffirmed his commitment to ensuring citizens enjoy the full benefits of domestic refining, noting the company is working tirelessly to ensure gantry price reductions translate to lower pump prices nationwide.