President of Dangote Refinery, Aliko Dangote, has intensified his criticism of Nigeria’s downstream oil regulator, calling for an investigation and prosecution of the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, over alleged economic sabotage and attempts to frustrate domestic refining.
Speaking at a press conference at the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, Dangote accused the regulator of colluding with international traders and oil importers by issuing import licences for petroleum products despite the availability of local refining capacity.
Dangote alleged that Ahmed was living beyond his legitimate means, claiming that four of his children attend secondary schools in Switzerland at a cost of $5 million.
“Mallan Farouk has four of his children whom he educated in Switzerland at a cost of $5 million for their secondary school education alone, not university.
“When you look at his income, his income does not match paying this kind of fees. And even if it’s me paying $5m for six years for my four children, the taxman has to look at my taxes and how much I pay.
“From Sokoto, where he comes from, people are struggling to pay ₦100,000 for school fees. A lot of children are at home, not going to school, because of ₦100,000,” Aliko Dangote said, adding that the NMDPRA boss should be investigated.
“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 added.
He also suggested that if Ahmed denied the claims, he would publish tuition records and compel the schools to disclose payments.
Petrol Price Reduction
Dangote assured Nigerians that petrol prices would fall further, announcing that from Tuesday, December 16, MRS filling stations in Lagos would sell Premium Motor Spirit (PMS) at no more than ₦740 per litre, following his refinery’s reduction of gantry price to ₦699 per litre.
He explained that the refinery had lowered its minimum purchase requirement from two million litres to 500,000 litres to enable more marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to participate.
“So, if you come to the refinery today, you will get PMS at ₦699 per litre,” he said.
Dangote warned that Nigeria’s reliance on fuel imports was harming local production and discouraging investment in domestic refining. He revealed that import licences covering 7.5 billion litres of PMS had been issued for the first quarter of 2026, despite available refining capacity.
Dangote Vs. Farouk Ahmed feud renewed:
— Imran Muhammad (@Imranmuhdz) December 15, 2025
Dangote: “Mallan Farouk has four of his children whom he educated in Switzerland at a cost of $5 million for their secondary school education alone, not university.
“When you look at his income, his income does not match paying this kind… pic.twitter.com/MzkbU0K9AL
“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.
He stressed that Nigerians would ultimately benefit from local refining, even if importers incurred losses.
Legacy Over Profit
Dangote said the refinery was driven more by legacy than profit, noting that he could have invested the $20 billion elsewhere. He disclosed plans to list the refinery on the Nigerian Exchange to allow Nigerians to own shares, with dividends payable in dollars.
“We want every living Nigerian to have the opportunity to benefit, no matter how small their holding. If the market takes 55 per cent and I retain 45 per cent, I am satisfied,” he said.
Dangote revealed that the refinery imports an average of 100 million barrels of crude annually from the United States, a figure expected to rise to 200 million barrels due to insufficient domestic supply. It also sources crude from Ghana and other countries while exporting jet fuel and gasoline to the US.
He alleged that domestic refiners were forced to buy Nigerian crude at premiums of up to $4 per barrel from international oil companies, placing them at a competitive disadvantage.
When NMDPRA was contacted by newsmen for their reaction, spokesman George Ene-Ita declined to respond, saying: “No comment.”
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