…Alleges regulatory sabotage of refinery
President and Chief Executive of Ɗangote Industries Limited, Aliko Ɗangote, has called for an investigation of the operations of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), citing economic sabotage that is undermining domestic refining in Nigeria.
Speaking at a press conference at the Ɗangote Petroleum Refinery on Sunday, Ɗangote accused the leadership of the NMDPRA of colluding with international traders and oil importers to frustrate local refining through the continued issuance of import licences for petroleum products.
The Ɗangote Group chairman assured Nigerians that the pump price of Premium Motor Spirit would fall further, stating that petrol would sell at no more than ₦740 per litre from today, beginning in Lagos, due to his refinery’s reduction of the gantry price to ₦699 per litre. He said MRS filling stations would be the first to reflect the new pricing.
Expressing concern over the state of the downstream sector, Ɗangote said Nigeria’s continued reliance on fuel imports was harming local production and discouraging investment in domestic refining. He disclosed that import licences covering approximately 7.5 billion litres of PMS had reportedly been issued for the first quarter of 2026, despite the availability of significant domestic refining capacity.
According to him, modular refineries are already struggling under the current policy environment and on the brink of extinction, while the persistent issuance of import permits further weakens the sector.
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.
Ɗangote stressed the need for a clear separation between regulatory oversight and commercial interests, warning that allowing traders to influence regulation would undermine the integrity of the sector.
He maintained that Nigerians would ultimately benefit from local refining, even as fuel importers incur losses, adding that he would not relent in ensuring that Nigerians enjoy the benefits of domestic refining, noting that the company was working around the clock to ensure that recent reductions in the gantry price were fully reflected at the retail level.
According to him, from today all MRS filling stations would begin selling PMS at prices not exceeding ₦740 per litre, starting in Lagos. He added that the refinery had reduced 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, to participate.
“So if you come to the refinery today, you will get PMS at N699 per litre,” he said.
Ɗangote disclosed that despite frustration and sabotage, the refinery would deploy its Compressed Natural Gas (CNG) trucks in the coming days, and was prepared to procure additional units beyond the initial 4,000 if required to sustain affordable pricing nationwide.
Responding to complaints from oil importers that the recent price reduction would result in losses, Ɗangote said the refinery was established primarily for the benefit of Nigerians.
“Anyone who chooses to continue importing despite the availability of locally-refined products should be prepared to face the consequences”, he stated.
He also highlighted quality differences, noting that products supplied through MRS and other offtakers from the refinery were straight-run fuels, unlike blended products imported from overseas markets.
