Aliko Dangote, President and CEO of Dangote Industries Limited, has called on the Federal Government to investigate and prosecute the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, over alleged economic sabotage and actions reportedly undermining local refining in Nigeria.

Speaking to journalists at the Dangote Petroleum Refinery, Dangote accused NMDPRA leadership of collaborating with international oil traders and fuel importers to frustrate domestic refining efforts. He alleged that the continuous approval of import licences for petroleum products was deliberately weakening Nigeria’s refining capacity.

The industrialist also raised concerns over the NMDPRA chief’s lifestyle, suggesting it exceeded his legitimate income and highlighting potential integrity issues in downstream petroleum regulation.

Despite his criticisms, Dangote reassured Nigerians that petrol prices would continue to decline, announcing that the pump price of Premium Motor Spirit (PMS) would not exceed N740 per litre in Lagos from Tuesday. He said the reduction follows the refinery’s decision to cut its gantry price to N699 per litre, with MRS filling stations expected to reflect the new pricing first.

Dangote expressed concern over Nigeria’s downstream petroleum sector, warning that reliance on imported fuel stifles local production and discourages investment in domestic refining. He revealed that import licences for about 7.5 billion litres of PMS had reportedly been approved for the first quarter of 2026, despite substantial local refining capacity. He said the policy environment has pushed many modular refineries to the brink of collapse.

“I am not asking for his removal, but for a transparent investigation. He should explain his actions and prove that his office has not been compromised. What we are witnessing amounts to economic sabotage,” Dangote said, suggesting agencies such as the Code of Conduct Bureau could conduct the probe.

He described the downstream sector as dominated by powerful interests profiting from fuel imports at the expense of national development. Dangote stressed that fuel import volumes allowed into the country are unethical and undermine Nigeria’s economic interests.

He emphasized the need to separate regulatory duties from commercial activities, warning that allowing traders to influence regulatory decisions would erode sector confidence. “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 said.

Dangote reaffirmed his commitment to ensuring Nigerians benefit from domestic refining. He noted that recent gantry price reductions would translate to lower pump prices nationwide and disclosed that the refinery has lowered 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.

“Any marketer coming to the refinery today can lift PMS at N699 per litre,” he added.