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Nigeria

Dangote threatens N100bn suit over ‘unclean business’ claim

President of Dangote Group, Aliko Dangote, has given Kaduna based businessman Kailani Mohammed a seven day ultimatum to retract alleged defamatory statements against him or face a N100 billion lawsuit. In a letter sent through his lawyer, Ogwu James Onoja (SAN), Dangote demanded a public explanation, retraction and unreserved apology over remarks made during a Trust TV interview.​ Mohammed had questioned the source of Dangote’s wealth and claimed he engaged in “unclean business” in Port Harcourt in the 1980s. The comments were made while reacting to Dangote’s petition against former NMDPRA chief executive Farouk Ahmed, which alleged misuse of public funds and economic sabotage.​ Dangote’s legal team said the statements were false, malicious and calculated to damage his reputation and business standing at home and abroad. The letter stated that the remarks portrayed him as a corrupt businessman who built […]

Abdulmumini Auwal SA December 22, 2025

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Nigeria

ICPC invites Dangote over 7m dollars school fees claim

The Independent Corrupt Practices and Other Related Offences Commission has invited billionaire businessman Aliko Dangote over his petition against the immediate past chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed. Dangote is expected to appear or be represented by his lawyer, Ogwu Onoja, when a formal investigation into the petition begins on Monday.​ A special panel of investigators was set up on Friday to handle the case, underscoring the importance the commission places on the allegations. ICPC has asked Dangote to submit documents and other evidence to back his claims, stressing that anyone who makes accusations must provide proof or leads for investigators to follow.​ In the petition, submitted on Tuesday through his lawyer, Dangote accuses Farouk Ahmed of corruption, abuse of office, and living far above his means as a public officer. He alleges […]

Abdulmumini Auwal SA December 21, 2025

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Nigeria

Dangote refinery row forces regulators to resign

The Nigerian oil and gas industry has been thrown into uncertainty following the resignation of the chief executives of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr Gbenga Komolafe, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Engr Farouk Ahmed. Both NUPRC and NMDPRA are responsible for enforcing petroleum laws, regulations and guidelines in the upstream and downstream sectors. Komolafe and Ahmed were appointed in September 2021 by former President Muhammadu Buhari after the Petroleum Industry Act, PIA, came into force and had been reporting directly to President Bola Tinubu, who is also the Petroleum Minister, until their resignations. Farouk Ahmed’s exit follows his recent clash with industrialist Aliko Dangote, who petitioned the Independent Corrupt Practices and Other Related Offences Commission, ICPC, over alleged misconduct. Dangote accused the NMDPRA leadership of economic sabotage, claiming that its policies were […]

Abdulmumini Auwal SA December 18, 2025

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Uncategorized

Group seeks probe of Dangote’s claim on Farouk Ahmed’s children​

President Bola Ahmed Tinubu has been urged to order an investigation into an allegation that the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed, paid 5 million dollars in secondary school fees for his children.​A coalition of civil society organisations under the platform of the Empowerment for Unemployed Youth Initiative (EUYI) made the call, asking that anti-graft agencies, especially the Economic and Financial Crimes Commission (EFCC), should verify the claim.​ Speaking at a press conference in Abuja, EUYI convener, Comrade Momoh Prince, said public trust in government depends on transparency and accountability, especially when serious allegations are raised against public officials.​The group explained that its demand followed a public claim linked to industrialist Alhaji Aliko Dangote, which questioned the source of funds allegedly used to pay for the foreign education of Farouk […]

Abdulmumini Auwal SA December 17, 2025

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Nigeria

Dangote refinery price cut triggers brutal petrol war, heavy losses for importers and marketers

Nigeria’s downstream petroleum sector is in the middle of what operators describe as an intense price war following the decision by the Dangote Petroleum Refinery to sharply reduce its gantry price for Premium Motor Spirit from N828 to N699 per litre. The move has forced fuel importers, depot owners and retail marketers to cut prices aggressively, even as the refinery admits it is also losing money under the new price regime.​ Estimates based on consumption and supply data suggest that petrol importers could lose about N102.48bn every month if they match Dangote’s prices. With the refinery now selling N129 per litre cheaper than the prevailing import landing cost, analysts say depot owners who offload cargo at Dangote-level prices would be taking a loss of about N129 on every litre sold, amounting to roughly N3.41bn daily. Dangote Refinery itself is projected […]

Abdulmumini Auwal SA December 16, 2025

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Nigeria

Dangote targets N739 per litre petrol as refinery cuts depot price

MRS and other partners of the Dangote Petroleum Refinery are expected to start selling petrol at N739 per litre, following a fresh reduction in the refinery’s depot price. The move comes two days after the refinery slashed its petrol gantry price from N828 to N699 per litre, a cut of about N129 per litre.​ Speaking at a press briefing at the Lekki refinery, Dangote Group President, Aliko Dangote, said he was aware that some filling stations keep pump prices high despite lower depot prices. He accused some marketers of undermining his efforts by refusing to pass on the reductions to consumers.​ Dangote said MRS would commence sales at N739 per litre from Tuesday in Lagos, while other partner stations would follow across the country. He insisted that the current prices of around N900 to N970 per litre at some outlets […]

Abdulmumini Auwal SA December 15, 2025

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Finance

Africa Loses $90bn Yearly to Substandard Fuel Imports — Dangote Sounds Alarm

Africa’s $90 Billion Fuel Crisis: Dangote Exposes Costly Dependency Aliko Dangote, President of Dangote Industries, dropped a bombshell at the West African Refined Fuel Conference in Abuja: 🔥 $90 billion lost yearly – Africa’s cost for importing substandard fuel🛢️ 120 million tonnes imported – Despite continent producing 7M barrels/day⚠️ Toxic dumping – Low-quality Russian-blended fuels flooding African markets "We’re exporting jobs and importing poverty." — Dangote The Stark Reality of Africa’s Refining Gap By the Numbers:▸ Only 40% of Africa’s 4.3M bpd fuel demand is refined locally▸ Europe/Asia refine 95%+ of their consumption▸ 15 African nations have GDPs smaller than $90bn Dangote’s Challenge:"Why export crude only to buy back refined products at premium prices?" Inside Dangote Refinery’s Herculean Build 🏗️ Project Scale:• 2,735 hectares cleared (7x Victoria Island)• 65M cubic meters of sand pumped to stabilize swampland• 67,000 workers at peak (50,000 Nigerians) 🌍 Industrial Ecosystem Created:✔ Dedicated seaport (Nigerian ports couldn’t handle equipment)✔ World’s largest granite quarry (10M tonnes/year capacity)✔ 2,500+ heavy […]

Ahmad July 23, 2025

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