Chairman of the Dangote Industries Limited, Aliko Dangote, has accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of issuing licences for the importation of petroleum products from Russia.
According to him, the NMDPRA issued “reckless licences” for the importation of “about 7.5 billion litres” of petrol for the first quarter (Q1) of 2026, despite assuring Nigerians of adequate supply.
Dangote who stated this during a media parley, also accused the NMDPRA leadership of colluding with international traders and oil importers to frustrate local refining through the continued issuance of import licences for petroleum products.
“The Russian product is at a discount. It is at $20 to $25 discount in terms of tonnage of crude.
“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,” Dangote stated.
The billionaire businessman lamented that 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.”
He pointed out that 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.
Dangote said the downstream sector is under severe strain, even as he alleged 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.
“The downstream sector must not be destroyed by personal interests. A trader should never be a regulator. Forty-seven licences have been issued, yet no new refineries are being built because the environment is not conducive,” he said.
He further alleged that domestic refiners are forced to buy Nigerian crude at premiums of up to four dollars per barrel from the trading arms of international oil companies, placing them at a competitive disadvantage.
He called on the government to ensure crude oil taxes are assessed based on actual transaction values, warning that the current system allows under-declaration and revenue losses.
