Nigeria’s leading billionaire, Aliko Dangote, has sharply intensified his public dispute with the country’s oil industry regulator, accusing it of favouring cheap imported fuel and hurting domestic refining efforts. Dangote made the remarks at his massive 650,000-barrel-per-day refinery in Lagos, which was built to reduce Nigeria’s dependence on fuel imports.
Dangote warned that continued reliance on imported petrol and diesel could undermine local energy production, job creation and broader industrial growth. He told reporters that using imports “to checkmate domestic potential” threatens long-term economic gains Nigeria hopes to achieve.
His main target in the dispute is the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and its chief, Farouk Ahmed. Dangote has publicly called for an official inquiry into Ahmed’s conduct, alleging that the regulator has mismanaged the sector and that Ahmed’s private spending significantly exceeds what his official salary could justify.
Dangote contests the regulator’s recent advice to President Bola Tinubu against banning imported refined fuel, a recommendation based on the view that local refineries cannot yet meet Nigeria’s approximate daily demand of 55 million litres. Dangote says this assessment misrepresents his refinery’s production and claims the regulator relies on offtake figures instead of true output data.
A key complaint from Dangote is that the refinery has not been able to secure all the crude oil it needs because a rule designed to ensure local refineries get priority supply ahead of exports has not been enforced. As a result, the refinery imports close to 100 million barrels of crude oil each year, a figure Dangote expects to rise as the facility expands.
Despite these challenges, Dangote said he will press ahead with plans to expand the refinery and protect his investment, calling it “too big to fail”. He also repeated his plan to list the company on the Nigerian stock market and pay dividends in U.S. dollars, with the aim of enabling everyday Nigerians to own a share of the business.
In addition to his public comments, Dangote has taken the dispute to Nigeria’s anti-corruption agency, the Independent Corrupt Practices and Other Related Offences Commission (ICPC), submitting a formal petition urging investigation and prosecution of the NMDPRA boss over allegations of corruption and financial impropriety. The ICPC has acknowledged receipt and says it will investigate the matter.
The dispute has attracted wider political attention. Nigeria’s House of Representatives is reviewing the conflict between Dangote’s refinery and the regulator, with some lawmakers saying the disagreement could affect fuel supply, pricing and overall stability in the downstream petroleum sector.