The Nigerian oil and gas sector has been rocked by an extraordinary public dispute, with Aliko Dangote, President and Chief Executive of Dangote Industries Limited, launching a severe attack on the leadership of the Nigerian Midstream and
Downstream Petroleum Regulatory Authority (NMDPRA). Speaking at a press conference at the Dangote Petroleum Refinery, the industrialist accused the regulator’s head of actions amounting to economic sabotage and called for an official investigation into his personal finances.
The Charge of Economic Sabotage
At the core of the accusation is the claim that the NMDPRA is systematically undermining Nigeria’s domestic refining capacity.
Dangote alleged that the regulatory body, through its leadership, is colluding with international traders and oil importers.
The primary mechanism of this alleged sabotage is the continued issuance of import licences for petroleum products, even as the Dangote Refinery achieves significant production capacity.
The billionaire argued that the persistence of large-scale fuel imports, with licences reportedly issued for billions of litres for the upcoming quarter, artificially keeps domestic prices high and frustrates the operations of local refiners, including the new modular refineries that are currently struggling.
Dangote contends that the policy encourages capital flight and shifts employment and investment overseas, directly harming the Nigerian economy.
Lavish Spending and Conflict of Interest Allegations
Dangote’s accusations went further, moving from policy critique to personal conduct. He called for a probe of the NMDPRA Chief Executive, citing concerns over alleged mismanagement and personal expenditures that appear to exceed a public official’s legitimate earnings.
Specifically, Dangote drew attention to claims that the regulator’s chief has spent millions of dollars on his children’s secondary school education in Switzerland.
The industrialist insisted that this alleged expenditure raises serious questions about potential conflicts of interest and the overall integrity of regulatory oversight in the critical downstream petroleum sector.
“A trader should never be a regulator,” Dangote stated, stressing the need for a clear separation between regulatory functions and commercial interests to prevent entrenched interests from destroying the downstream sector.
Implications for the Energy Sector
The public spat highlights the intense struggle between the country’s drive for energy self-sufficiency and what Dangote describes as entrenched interests profiting from the import regime.
Despite the regulatory challenges, Dangote affirmed his commitment to the Nigerian market, announcing that the refinery’s move to reduce its gantry price would soon see the pump price of Premium Motor Spirit (petrol) fall significantly for Nigerian motorists.
The allegations are now a matter for the Federal Government and security agencies, with Dangote demanding that the Code of Conduct Bureau or another appropriate body investigate the regulator’s operations and the source of his alleged lavish spending.
The NMDPRA Chief has yet to issue a direct response to the latest claims.
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