Farouk Ahmed, the Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has resigned amid corruption allegations, following a petition by Dangote Group Chairman Aliko Dangote to the Independent Corrupt Practices and Other Related Offences Commission accusing him of financial impropriety.
Dangote accused Ahmed of living beyond his means, citing the cost of his children’s education in Switzerland, which allegedly runs into several million dollars. The ICPC has acknowledged receipt of the petition and promised to investigate the allegations .
President Bola Tinubu has accepted Ahmed’s resignation and nominated Saidu Aliyu Mohammed as the new CEO of NMDPRA. The President also announced the resignation of Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and nominated Oritsemeyiwa Eyesan as his replacement .
The resignations of Ahmed and Komolafe are expected to have far-reaching implications for Nigeria’s oil and gas sector, which continues to grapple with concerns over corruption and regulatory effectiveness. Industry stakeholders now look to the new appointees to restore confidence, strengthen oversight and promote greater stability and transparency across the sector.
