Africa’s richest man, Aliko Dangote, has launched a battle against Nigeria’s oil and gas regulator, accusing it of undermining his investment.
Dangote owns a large oil refinery located in the Lekki commercial zone in Lagos. It has the capacity to process 650 thousand onions per day.
The tycoon explained that he established the company to help Nigeria and the rest of Africa get enough petroleum because most of it is imported.
While at the factory on December 14, 2025, Dangote told journalists that petroleum products continue to enter Nigeria in large quantities and at low prices in order to suppress investment by citizens.
He said, “You should not use the revenue to back the efforts that are being made in the country.”
Dangote expressed that this is not understandable because the more oil products continue to enter the country, the more foreigners continue to earn and get jobs, while Nigeria is struggling to rebuild itself.
The tycoon demanded that the head of the National Petroleum Regulatory Authority, Farouk Ahmed, be investigated for his management.
In the past, Ahmed has accused Dangote of trying to dominate the petroleum market yet his refinery's production is below the country's 55 million liters per day demand.
Dangote testifies that Ahmed's statement contradicts the actual figures and that his company plans to expand its operations. Even if the complaint were to remain, the company is too big to expect bankruptcy
