The renewed feud between Aliko Dangote, President of Dangote Refinery, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed and fuel importers and marketers alike has pushed retail fuel prices to the lowest rate nationwide.
DAILY POST reports that on Sunday, Dangote made several accusations against the NMDPRA boss, including describing him as an economic saboteur for encouraging fuel imports despite his refinery’s capacity.
The billionaire investor further claimed that Ahmed paid up to $5 million, which is over N7 billion, as school tuition for his children in Switzerland., an allegation NMDPRA in July 2025 had dismissed as false.
The allegation was first made public by a coalition of civil society organizations under Lawyers in Defence of Good Governance.
While Dangote re-echoed the claims on Sunday, the CSO, in a statement on Monday by its director, Olawale Mudasiru, retracted their allegations against Ahmed on the basis that they were misinformation.
“Our initial allegations were based on misinformation. We have since discovered that Engr. Farouk Ahmed’s children were on scholarships and had completed their education before his appointment,” he said in a statement to DAILY POST.
Meanwhile, the allegation had already sent panic among stakeholders and players in the downstream sector.
DAILY POST reports that Dangote’s fresh attack on Ahmed comes at the instance of the former’s recent gantry fuel price reduction from N828 to N699 per liter to edge out importers whose ex-depot price as of last week stood at a minimum of N824 per liter.
Dangote, in his Sunday briefing, said Nigerians should not buy petrol in December and January for more than N740 per liter from Tuesday.
He vowed to fight with his resources to see that fuel prices are crashed.
Development industrial stakeholders described it as a market strategy for Dangote to force marketers to patronize his petrol and dominate the market.
Checks by DAILY POST showed that Bovas filling station in Abuja’s Wuse Zone 6 had crashed its retail fuel price to N865 per liter, down from N910 earlier on Monday.
Empire Energy, Ranoil in Gwarimpa, Abuja, have adjusted their pump to 912 and 910 per liter, respectively.
Nigerian National Petroleum Company Limited (NIPCO) and AA Rano filling stations in Abuja dispense petrol as of Monday night at N915, N905, and N910 per liter, respectively.
When DAILY POST called a filling station manager at MRS, who preferred anonymity, Monday evening, he confirmed that petrol has remained unchanged at N910 per liter but may come down from Tuesday.
Private depot owners such as Menj, Bovas, AA Rano, and Integrated reduced their pump price to N710 per liter, up from around N824 per liter.
Meanwhile, AYM Shafa, Raniol, and other ex-depot prices stood at N815 per liter.
Marketers begin impleming fuel price drop nationwide – IPMAN
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, told DAILY POST exclusively that Nigerians would begin to see the petrol price drop implemented across filling stations from Tuesday to next week.
“So from Tuesday and next week, you will see the reactions and the dividends of this reduction in petroleum price,” he said.
Speaking on the feud between Dangote and Ahmed, he said that both need to collaborate for the benefit of Nigerians.
“I also believe that NMDPRA and Dangote should collaborate to ensure that there is a steady supply of petroleum products and to enable the masses to enjoy the benefits of this reduced price,” he appealed.
DAILY POST reports that despite the petrol price drop, road transportation cost has remained unchanged in Abuja and other major cities.
Dangote-Ahmed feud won’t benefit Nigerians, petrol price cut short-lived – PETROAN President, Gillis-Harry
On his part, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, in an interview with DAILY POST on Monday, dismissed claims that there were deliberate efforts to frustrate the operations of the Dangote Refinery, describing such narratives as “phantom talks” driven by industry rivalry and a struggle for dominance.
According to him, it is illogical for anyone acting in good faith to work against the functionality of a major national asset like the Dangote Refinery.
“How can anybody in their right senses find it a good thing to make the refinery not work? It’s just not possible,” he said.
“In my opinion, these are phantom talks playing around in the industry for dominance, for an oligarch to take over the industry,” he added.
He noted that there are already strong agreements in place to ensure that petrol produced by the Dangote Refinery is patronized before imported products, stressing that marketers are not opposed to local refining.
The PETROAN president, however, cautioned against what he described as unsustainable pricing strategies, following recent reductions in petrol prices by the refinery.
“If he wakes up and starts reducing prices, maybe he has a lot of money he wants to burn. At the end of the day, we will see how it plays out for Nigeria,” he stated.
He warned Nigerians not to be swayed by what he termed “Greek gifts,” arguing that artificially low petrol prices could destabilize the market and harm the economy in the long run.
“If petroleum product pricing is not correct, it is not a fair market price.
“Whether we are refiners, importers, or marketers, trying to play to the gallery with the populace is self-deceit,” he said.
The PETROAN boss stressed that inaccurate pricing could lead to serious challenges later, with severe consequences for Nigerians who rely daily on petrol, diesel, and aviation fuel.
“You may enjoy incorrect pricing for one week or one month, but what happens for the rest of your life? Nigerians will suffer when the push comes to shove,” he warned.
He concluded by urging stakeholders to avoid marketing tactics that may appear attractive in the short term but do not serve the long-term interest of Nigerians.
“It’s better for pricing to be accurate and correct. We need to stop these kinds of tactics that do not benefit Nigerians in the long run,” he added.
DAILY POST reported that Gillis-Harry had described Dangote’s claim against the NMDPRA CEO as blackmail and petty.
Meanwhile, the House of Representatives Committee on Petroleum Resources (Downstream) has called on Dangote and NMDPRA to cease hostility.
Recall that NMDPRA’s November industrial data said that out of the 52.9 million liters per day of petrol consumed by Nigerians, only 19.5 million liters per day were supplied by Dangote Refinery.
The data showed the country’s fuel petrol is still heavily dominated by fuel imports, the reason the Nigerian government had halted the implementation of a 15 percent import duty tax on refined petrol products.
Meanwhile, Dangote has expressed his displeasure over the regulator’s data.
In 2024, Dangote and Ahmed had engaged in a war of words over the claim that the former’s $20 billion refinery produces petrol products with high sulfur.
Dangote, NMDPRA feud: Stakeholders react as fuel price crashes across Nigerian filling stations
