Overview
- Dueling parties were invited by the House Joint Committee on Petroleum Resources to appear in the coming days for mediation and a formal investigation.
- The committee asked Dangote and the NMDPRA to cease media hostilities to protect fragile stability in the post-subsidy downstream market.
- At a press conference, Aliko Dangote urged an investigation and prosecution of NMDPRA chief Farouk Ahmed, alleging collusion with traders and conflicts of interest.
- Dangote said import licences for roughly 7.5 billion litres of petrol were issued for Q1 2026, warned modular refineries are at risk, and accused regulators of miscasting his refinery’s capacity.
- Dangote announced a gantry price cut to N699 and said petrol would not exceed N740 per litre in Lagos from Dec. 16, while the NMDPRA spokesman declined to comment.