Dangote Accuses NMDPRA CEO of Sabotage

Aliko Dangote, CEO of Dangote Group, has publicly accused Farouk Ahmed, CEO of the Nigeria — Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), of economic sabotage and corruption. Dangote alleges that NMDPRA officials collude with international traders to issue excessive import licenses for petroleum products, thereby undermining Nigeria's domestic refining capacity and investment. He specifically cited Farouk Ahmed's alleged payment of $5 million for his children's secondary education in Switzerland as evidence of living beyond legitimate means and a potential conflict of interest. Dangote called for a thorough investigation and prosecution of Ahmed. Amidst these accusations, Dangote Petroleum Refinery announced a significant reduction in the pump price of Premium Motor Spirit (PMS) to N740 per litre, starting in Lagos, and reduced its minimum purchase requirement for marketers. Dangote also revealed plans to list the refinery on the Nigerian Exchange Group to allow public ownership and highlighted challenges in crude oil procurement, including importing from the United States and Ghana, while exporting refined products to the United States. He also alleged that domestic refiners are forced to buy Nigerian crude at premiums and called for government intervention on crude oil taxes.