“We Have Fuel, Yet Imports Are Encouraged to Keep Prices High” — Dangote Takes on NMDPRA CEO, Accuses Him of Monumental Corruption

Dangote Refinery and Petrochemicals has accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority of actions that undermine local refining, with its President, Alhaji Aliko Dangote, alleging monumental corruption within the leadership of the agency.

Speaking at a news conference in Lagos on Monday, Dangote said Nigeria had sufficient locally refined petroleum products, yet fuel imports were being deliberately encouraged to keep prices high. “We have fuel, yet imports are encouraged to keep prices high,” he said, describing the situation as harmful to the economy and unfair to investors in domestic refining.

Dangote accused the Chief Executive Officer of the NMDPRA, Farouk Ahmed, of compromising the integrity of the regulatory process and called on the Federal Government to order a full investigation into the agency’s activities. He said the continued issuance of import licences for petrol, despite the availability of domestic supply, amounted to economic sabotage.

“I am not calling for his removal,” Dangote said. “I am calling for a proper investigation. He should account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians.”

He alleged that the leadership of the regulatory authority was working in the interest of international traders and fuel importers, rather than supporting local production. According to him, import licences covering about 7.5 billion litres of premium motor spirit had reportedly been issued for the first quarter of 2026, even as local refining capacity remained underutilised.

Dangote said the policy environment had placed modular refineries under severe pressure, warning that many were close to shutting down. “The downstream sector must not be destroyed by personal interests. A trader should never be a regulator,” he said.

He announced a further reduction in petrol prices, stating that PMS would sell for no more than N740 per litre from Tuesday in Lagos. This, he explained, followed the refinery’s reduction of its gantry price to N699 per litre. “From tomorrow, all MRS filling stations will begin selling PMS at prices not exceeding N740 per litre, starting in Lagos,” he said.

Dangote added that the refinery had reduced its minimum purchase requirement from two million litres to 500,000 litres to allow more marketers to access products directly. He said this would enable independent marketers to participate more actively in product distribution.

Addressing complaints from fuel importers about losses resulting from the price reduction, Dangote said the refinery was built primarily for Nigerians. “Anyone who chooses to continue importing despite the availability of locally refined products should be prepared to face the consequences,” he said.

He also drew attention to quality differences between locally refined fuel and imported products, noting that petrol supplied by the refinery was straight-run fuel, unlike blended imports. “Nigerians can choose to buy better quality fuel at a lower price or blended fuel at a higher price,” he said.

Dangote disclosed that the refinery imports about 100 million barrels of crude oil annually from the United States due to inadequate domestic supply, a figure expected to double with expansion. He said crude was also sourced from Ghana and other countries, while refined products such as jet fuel and gasoline were exported to the United States.

He further alleged that domestic refiners were forced to buy Nigerian crude at premiums of up to four dollars per barrel from trading arms of international oil companies, a situation he said placed local producers at a disadvantage. He called on the government to ensure crude oil taxes were assessed on actual transaction values to prevent revenue losses.

Reaffirming his commitment to local refining, Dangote said the refinery would continue to operate in the interest of Nigerians. “This refinery is for Nigerians first, and I am not giving up,” he said.