Aliko Dangote, the chairman of the Dangote Industries Limited (DIL), has accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of issuing licences for the importation of petroleum products from Russia.
Dangote spoke on the health of the downstream sector and a range of other industry issues during a media parley at his refinery on Sunday, where he made allegations of corruption against Farouk Ahmed, the authority’s chief executive officer (CEO).
The billionaire also 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.
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He said despite his refinery’s effort to keep pump prices low, “some people are really bent on destroying the economy of the country by making sure that they keep issuing licenses to bring in products from Russia”.
The businessman disclosed that the NMDPRA has issued “reckless licences” for the importation of “about 7.5 billion litres” of premium motor spirit (PMS) for the first quarter (Q1) of 2026, despite assuring Nigerians of adequate supply.
“The Russian product is at a discount. It is at $20 to $25 discount in terms of tonnage of crude,” he said.
“Nigeria’s own is starting from a premium of $2 to $3, so there is an imbalance of about $28. As far as I’m concerned, Nigerians are paying a very great price, because it is destroying the downstream refineries.
“When you look at it now, how many downstream actors do we have? All the foreign companies have actually left the country — Shell and Co — all of them have gone offshore. Nobody is operating downstream.”
According to the Dangote Group chairman, 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 said the downstream sector is 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,” Dangote said.
“The volume of imports being allowed into the country is totally unethical and does a disservice to Nigeria.
“It is not good. We have already built our own. Other people will not be able to build their own, if this thing continues.”
Dangote 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.
