•Wants CEO probed   •MRS to sell petrol at N739/litre

By Adewale Sanyaolu

President, Dangote Industries Limited, Alhaji Aliko Dangote, has accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority  (NMDPRA) of harming the nation’s economy through the arbitrary issuance of fuel import permits. He also called for an investigation into the activities of the Authority’s Chief Executive Officer, Farouk Ahmed, alleging that his actions threaten to undermine the progress achieved in Nigeria’s oil and gas sector.

Dangote made the remarks at a media briefing in Lagos on Sunday.

“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.

According to him, the reported issuance of 47 import licences for 7.5 billion litres of petrol for the first quarter of 2026 by the regulator despite the availability of significant domestic refining capacity is a “death knell” for the downstream petroleum sector.

“As we speak, our tanks are full because the NMDPRA has issued 47 import licences to bring in 7.5 billion litres of petrol for Q1 2026,” he said.

Dangote further lamented that modular refineries are on the verge of collapse, barely managing to survive due to what he described as the activities of the NMDPRA, which, he said, do not support the growth of local industries.

He cautioned that nowhere in the world is importation used as a tool to checkmate local production, noting that such a strategy is counterproductive as it creates jobs for people in other countries at the expense of domestic employment.

The business mogul added that his investment in 2,000 Compressed Natural Gas (CNG) trucks is currently threatened, as the trucks are now lying idle at the refinery due to the prevailing situation.

As a survival strategy to ensure the refinery remains in business, Dangote announced that beginning from Tuesday, all MRS filling stations in Lagos will sell petrol at N739 per litre, while the price will not exceed N740 per litre in other parts of the country.

“All those sabotaging and working against those of us who have invested heavily in the oil and gas sector should be investigated. Some of them are living above their means and, in a bid to sustain their luxury lifestyles, are colluding with external forces to undermine the industry and inflict undue pain on Nigerians. We will not allow that to continue,” he said.

He called on marketers capable of purchasing a minimum of 10 truckloads to approach the refinery, noting that petrol would be sold to them at N699 per litre, inclusive of NMDPRA charges.

Dangote disclosed that the price reduction would cost the refinery about N60 billion in losses, adding that if such sacrifice is required to ensure Nigerians have access to cheaper fuel, it is worth making.

On sabotage, he revealed that the refinery has recorded over 100 cases involving stolen assets valued at $82 million.

“These acts of sabotage are responsible for the over 2,000 security personnel we have, which is even more than our workforce,” he said.

He lamented that the persistent sabotage has also increased the refinery’s insurance costs, further impacting revenue.

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 regulators would undermine the integrity of the sector.

He further alleged that domestic refiners are forced to buy Nigerian crude at premiums of up to four dollars per barrel from the trading arms of international oil companies, placing them at a competitive disadvantage.

He called on the government to ensure crude oil taxes are assessed based on actual transaction values, warning that the current system allows under-declaration and revenue losses.

“I won’t give up. We are used to fighting. We fought them in sugar and cement. I can tell you that the cabal in the oil and gas sector is worse than what we saw in the drugs business. But in all, we won’t give up. It’s either they leave the space for us or we leave it for them. But I can assure you, we won’t leave the space, because what we are doing is legitimate,” Dangote added.