KEY POINTS
- Nigerian petroleum regulator resignation followed public scrutiny and investor pressure.
- Tinubu nominated oil veterans after the Nigerian petroleum regulator resignation.
- Dangote’s criticism intensified debate over regulation and fuel imports.
Farouk Ahmed, chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has resigned days after Africa’s richest man, Aliko Dangote, publicly called for a full investigation into allegations that Ahmed spent about $5 million on his children’s secondary education in Switzerland.
The resignation followed a meeting between Ahmed and President Bola Tinubu at the Presidential Villa in Abuja on Wednesday. Shortly after, Tinubu moved to reset leadership across Nigeria’s petroleum regulatory agencies, asking the Senate to confirm new nominees in a bid to restore confidence in a sector already strained by policy disputes and market pressure.
Nigerian petroleum regulator resignation reshapes oversight
Ahmed’s exit came alongside the resignation of Engineer Gbenga Komolafe, chief executive of the Nigerian Upstream Petroleum Regulatory Commission. Both officials were appointed in 2021 under former President Muhammadu Buhari to implement reforms introduced by the Petroleum Industry Act.
Tinubu has nominated Oritsemeyiwa Amanorisewo Eyesan to head the upstream regulator and Engineer Saidu Aliyu Mohammed to lead the midstream and downstream authority. Eyesan, an economics graduate of the University of Benin, spent nearly 33 years at NNPC and its subsidiaries, retiring as executive vice president for upstream operations. Mohammed, a chemical engineering graduate of Ahmadu Bello University, previously led Kaduna Refining & Petrochemical Company, the Nigerian Gas Company and other NNPC units, and played a role in shaping the Gas Masterplan and the Petroleum Industry Act.
The rapid leadership changes underscore the sensitivity of regulatory credibility at a time when Nigeria is trying to attract investment and stabilise fuel supply.
Nigerian petroleum regulator resignation follows Dangote criticism
Dangote earlier this week accused fuel regulators of allowing cheap imports that undercut domestic refining, warning that the policy erodes jobs, investment and energy security. Speaking at his Lagos refinery, he said Nigeria was “exporting opportunities” while grappling with unemployment and foreign exchange shortages.
He also urged authorities, including the Code of Conduct Bureau, to investigate allegations surrounding Ahmed’s reported tuition payments, arguing that the sums involved warranted public scrutiny. Ahmed denied the claims, saying the allegations did not originate from him and should be examined by formal investigative institutions rather than debated publicly.
Billionaire Africa reports that the dispute unfolded against broader tensions over refinery operations. Ahmed had previously questioned whether the Dangote refinery could meet domestic fuel demand, a claim Dangote rejected, citing crude supply constraints and regulatory enforcement challenges.
Despite the controversy, Dangote has said he plans to expand the refinery, list it locally and pay dividends in dollars, framing the project as central to Nigeria’s industrial growth.
