A heated dispute has erupted between Alhaji Aliko Dangote, President and CEO of Dangote Industries Limited, and Engr. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The conflict revolves around accusations of corruption, market manipulation, and alleged attempts to undermine Nigeria’s domestic refining sector, triggering fuel price fluctuations and political scrutiny.

Dangote has accused Ahmed of sabotaging local refining efforts by continuously issuing import licenses for petroleum products despite growing domestic production capacity. Speaking at a press conference at the Dangote Petroleum Refinery, he said, “You don’t use imports to checkmate domestic potentials,” adding that such actions perpetuate Nigeria’s reliance on foreign fuel, discourage local investment, and reduce domestic job creation. Dangote claimed that import licenses for approximately 7.5 billion litres of Premium Motor Spirit (PMS) had already been issued for Q1 2026, while local refiners face operational challenges.

The billionaire industrialist also raised questions about Ahmed’s personal finances, alleging extravagant spending on his children’s education abroad. Dangote cited tuition and upkeep for four of Ahmed’s children at prestigious institutions in Switzerland, estimating total expenditures exceeding $5 million, and questioned the source of such funds in contrast to economic hardship in Sokoto State. He further claimed Ahmed spent $2 million on tertiary education and $210,000 on a Harvard MBA for his son Faisal Farouk.

The NMDPRA has denied these financial allegations. In July 2025, the authority labeled the claims as false, noting that a civil society group, Lawyers in Defence of Good Governance, later retracted their statements, confirming that Ahmed’s children were on scholarships and had completed their studies prior to his appointment. The agency also defended its import licenses, emphasizing that the Dangote Refinery had not yet reached full production to meet national demand, making imports necessary to maintain market stability.

The dispute has already impacted fuel prices nationwide. Dangote’s recent reduction of gantry fuel prices from N828 to N699 per litre, with a pledge that retail petrol would not exceed N740 per litre, prompted immediate retail adjustments. Filling stations, including Bovas in Abuja, lowered prices from N910 to N865. The Independent Petroleum Marketers Association of Nigeria, confirmed the price adjustments, while the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) dismissed claims that the move was intended to undercut competitors, attributing the debate to industry rivalry.

The escalating feud underscores broader tensions within Nigeria’s petroleum sector, highlighting ongoing challenges in balancing domestic refining growth, regulatory oversight, and economic accountability as the nation seeks energy self-sufficiency.