Nigeria’s oil sector has been thrown into fresh turmoil after Africa’s richest man, Aliko Dangote, publicly accused the country’s petroleum regulator of actions he says are crippling local refining and hurting millions of Nigerians. The allegations laced with claims of regulatory compromise, foreign schooling expenses running into millions of dollars, and economic sabotage have ignited fierce debate across the energy and governance space.
Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, has called for a full-scale investigation into the leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), alleging that regulatory decisions are deliberately undermining Nigeria’s domestic refining ambitions.
Speaking at a media briefing at the Dangote Petroleum Refinery in Lekki, Dangote alleged that the continued issuance of fuel import licences despite the availability of significant local refining capacity amounts to economic sabotage. According to him, these actions favour foreign traders while frustrating investments in local production.
The industrialist raised serious concerns over possible conflicts of interest within the regulatory system, questioning how public officials could sustain lifestyles and foreign financial commitments far beyond what public sector earnings typically allow. He argued that such questions must be openly addressed to protect public trust and investor confidence in Nigeria’s energy sector.
Dangote stressed that he was not demanding anyone’s removal but insisted that transparency and accountability were non-negotiable, urging appropriate authorities, including anti-corruption agencies, to examine the issues thoroughly.
“If regulators are compromised, the entire downstream sector is at risk,” he warned, adding that regulatory capture by trading interests discourages investment and keeps Nigeria dependent on fuel imports.
Fuel Price Relief Announced
Amid the controversy, Dangote also announced imminent relief for Nigerian consumers. He disclosed that the pump price of Premium Motor Spirit (PMS) would drop significantly, with prices expected to fall to about ₦740 per litre in Lagos, following a reduction in the refinery’s ex-depot price to ₦699 per litre.
He added that the refinery had lowered its minimum purchase volume to allow more independent marketers to participate in fuel distribution, a move aimed at improving nationwide access and competition.
Import Licences Under Scrutiny
At the centre of the dispute is the ongoing approval of fuel import licences, which Dangote described as counterproductive to Nigeria’s industrial growth. He argued that countries serious about development do not undermine their own refineries through regulatory policies that encourage imports over local production.
Despite repeated attempts, officials of the NMDPRA declined to comment at the time of filing this report.
