• Industrialist seeks probe of agency

• Petrol to sell for N740 from tomorrow

Dangote Refinery and Petrochemicals yesterday accused the regulating agency of downstream sector of undermining its refinery.

He accused Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of economic sabotage and urged the government to probe its activities.
President of the Dangote Refinery, Alhaji Aliko Dangote, who spoke in Lagos yesterday at a news conference urged the government to also probe NMDPRA Chief Executive Officer (CEO), Farouk Ahmed.

He accused NMDPRA leadership of colluding with international traders and oil importers to frustrate local refining through the continued issuance of import licences for petroleum products.
Alleging that Ahmed had been living above his means, Dangote said the bills being picked by the NMDPRA boss raised serious questions about potential conflicts of interest and the integrity of regulatory oversight in the downstream petroleum sector.

He assured of further fall in the pump price of petrol. He said the product would sell at no more than N740 per litre from tomorrow in Lagos, because of his refinery’s reduction of gantry price to N699 per litre.

He said MRS filling stations would be the first to reflect the new pricing.

Expressing concern over the state of the downstream sector, Dangote said Nigeria’s continued reliance on fuel imports was harming local production and discouraging investment in domestic refining.

He said import licences covering approximately 7.5 billion litres of PMS had reportedly been issued for the first quarter of 2026, despite the availability of significant domestic refining capacity.

According to him, 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: “I am not calling for his removal, but for a proper investigation. He should be required to account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians. What is happening amounts to economic sabotage.”

The business mogul said: “The Code of Conduct Bureau (CCB), or any other body deemed appropriate by the government, can investigate him.

He described the downstream petroleum sector as being under severe strain, alleging 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. The volume of imports being allowed into the country is unethical and does a disservice to Nigeria,” he added.

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 maintained that Nigerians would ultimately benefit from local refining, fuel importers incur losses. Dangote said he would not relent in ensuring that Nigerians enjoy the benefits of domestic refining, noting that the company was working around the clock to ensure that recent reductions in the gantry price were fully reflected at the retail level.
“From Tuesday (tomorrow)”, he said, “all MRS filling stations would begin selling PMS at prices not exceeding N740 per litre, starting in Lagos.”

He added that the refinery had reduced its minimum purchase requirement from two million litres to 500,000 litres to enable more marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to participate.

“So, if you come to the refinery today, you will get PMS at N699 per litre,” he said.

Dangote explained that despite frustration and sabotage, the refinery would deploy its Compressed Natural Gas (CNG) trucks in the coming days and was prepared to procure additional units beyond the initial 4,000 if required to sustain affordable pricing nationwide.

Responding to complaints from oil importers that the recent price reduction would result in losses, Dangote said the refinery was established primarily for the benefit of Nigerians.
“Anyone who chooses to continue importing despite the availability of locally refined products should be prepared to face the consequences,” he said.

He also highlighted quality differences, noting that products supplied through MRS and other off-takers from the refinery were straight-run fuels, unlike blended products imported from overseas markets.

“Nigerians have a choice to buy better quality fuel at a more affordable price or to buy blended PMS at a higher rate. Importers can continue to lose, so long as Nigerians benefit,” he added.

Dangote said the refinery was driven more by legacy than profit, noting that he could have invested the 20 billion dollars elsewhere if financial gain were his sole objective.

He reaffirmed the plan to list the refinery on the Nigerian Exchange to allow Nigerians to own shares in the facility.

“We want every living Nigerian to have the opportunity to benefit, no matter how small their holding. If the market takes 55 per cent and I retain 45 per cent, I am satisfied,” he said.

Dangote explained that discussions were ongoing with the Securities and Exchange Commission (SEC) to enable Nigerians to purchase shares in naira while receiving dividends in dollars.

Dangote accused the NMDPRA of misrepresenting the refinery’s capacity by publishing off-take figures rather than actual production levels.

“We have the capacity to meet local demand, and we have sufficient refined products in stock. But to keep prices high, imports are deliberately encouraged,” he said, adding that attempts were being made to push the refinery into exporting products only for them to be re-imported into Nigeria at higher prices.

“This refinery is for Nigerians first, and I am not giving up,” he said.

Dangote also explained that the refinery imports an average of 100 million barrels of crude oil annually from the United States, a figure expected to rise to 200 million barrels following expansion, due to insufficient domestic crude supply.

He added that the refinery also sources crude from Ghana and other countries, while exporting jet fuel and gasoline to the United States (U.S.).

Dangote 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.

• Nigeria’s Energy Revival Already Happening, Says Ojulari

On December 1st, 2025, NNPC E&P Limited (NEPL), the flagship upstream subsidiary of NNPC Limited, achieved a record production level of 355,000 barrels of oil per day, its highest daily output since 1989.
The milestone marks a significant step forward for Nigeria’s upstream sector and reflects the company’s ongoing transformation anchored on efficiency and discipline.
The figures show genuine transformation: average daily production surged 52%, rising from 203,000 barrels per day in 2023 to 312,000 in 2025.
This growth is no coincidence; it stems from a clear strategy anchored on operational excellence, strong asset management, and structured field development. NEPL’s performance demonstrates that with the right leadership, strengthened systems, and a committed workforce, Nigeria’s upstream sector can overcome years of instability.
The achievement converts national ambition into measurable momentum. The presidential targets of 2 million barrels per day by 2027 and 3 million by 2030 have often appeared aspirational. NEPL’s delivery brings them closer to reality.
Speaking on the development, Engr. Bashir Bayo Ojulari, the Group CEO of NNPC Limited pointed out that the milestone is proof that Nigeria’s energy revival is not a dream; it is already happening.
“By showing its ability to exceed its own production benchmarks, NEPL confirms that the essential building blocks for scaling national output are being firmly established. The achievement signals that the machinery of production—equipment, processes, capabilities, and partnerships—can be driven with commercial discipline to produce real and positive outcomes,” Ojulari stated.
He noted that the achievement reinforces confidence nationally and across the global energy landscape, assuring partners and investors that Nigeria is committed to reaffirming its role as a dependable energy supplier.
Also speaking, Udy Ntia, the Executive Vice President, Upstream, observed that the milestone goes beyond the 355,000 bpd figure.
“In a sector where shortcuts can yield short-term wins but long-term damage, NEPL is making a different point: sustainable progress must rest on responsible operations. This ensures that scaling production does not compromise worker safety, community wellbeing, or environmental protection. It reinforces a shift away from extraction at any cost towards sustainable value creation—a core requirement for any modern energy company seeking global relevance,” Ntia added.
Nicolas Foucart, MD, NEPL also noted that NEPL’s record-setting performance mirrors the broader transformation unfolding across NNPC Limited.
“This is a story shaped by leadership that charts a clear course; by partnerships built on alignment and accountability; and by a workforce whose hard work is turning goals into measurable progress. Our people, our processes, and principles are the real engines behind this success. We are building for tomorrow, not just celebrating today,” Foucart stated.
He added: “For Nigerians, this accomplishment means far more than increased barrels; it translates into greater national revenue, stronger energy security, and a more resilient economic foundation. NEPL has not only produced more hydrocarbons; it has reignited belief in what Nigeria’s energy sector can achieve with the right systems, culture, and dedication.”
NNPC E&P Limited is a wholly-owned subsidiary of the Nigerian National Petroleum Company (NNPC) Limited involved in the exploration and production of oil and gas resources.

The Abia state government, in partnership with the Niger Delta Power Holding Company (NDPHC), has commenced the construction of a 7.5MVA, 33/11kV Injection Substation in Umuahia.
The state governor, Governor Alex Otti, at the groundbreaking ceremony, described the project as a transformative initiative that will significantly boost power supply and enhance distribution reliability across the state, noting that the new infrastructure marks the beginning of a broader effort to modernise Abia’s power network.
The project is being executed by NDPHC under the National Integrated Power Project (NIPP). Its scope includes the construction of a 1km 33kV line, 1.2km of 11kV line, installation of two 300kVA distribution substations, and the provision of 2km of low-tension line.
Governor Otti commended the Federal Government and NDPHC for prioritising Abia in this strategic intervention. He also applauded President Bola Tinubu’s ongoing reforms in the power sector, which he said have expanded the national electricity framework to encourage stronger state participation, private sector investment, and global partnerships.
The governor further revealed that the state government has budgeted for an additional 7.5MVA Injection Substation in the 2026 fiscal year, which will raise the combined capacity in the Ogurube Layout area of Umuahia to 15MVA once completed.
NDPHC Managing Director/CEO, Jennifer Adighije, an engineer, who was represented at the event by Executive Director, Networks, Bello Babayo Bello, reaffirmed the company’s commitment to expanding access to reliable and sustainable electricity nationwide.
She said the Umuahia project reflects NDPHC’s mandate to empower communities and drive economic development.
When completed, the substation is expected to strengthen electricity supply, support small businesses, promote industrial development, and ultimately improve the quality of life for residents of Umuahia and surrounding communities.