BY SEGUN ADEBAYO – The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says there is no hiding place for Farouk Ahmed, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) with the anti-graft agency ready to commence immediate investigation into the corruption allegations against him.
Confirming it has received the petition submitted against Ahmed by the President of the Dangote Industries Limited, Alhaji Aliko Dangote, the ICPC assured that all the allegations will be duly investigated.
In a terse statement on the development, spokesman of the Commission, John Odey, said, “The Independent Corrupt Practices and Other Related Offences Commission (ICPC) writes to confirm that it received a formal petition today Tuesday 16th December, 2025 from Alhaji Aliko Dangote through his lawyer.
“The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated.”
The business mogul, had through his lawyer submitted a petition, demanding the arrest and prosecution of the NMDPRA boss whom he accused of living above his means, saying he used $5 million to sponsor his children secondary education in Switzerland.
Addressing a press conference on Sunday at the Dangote Petroleum Refinery, he said; “I am not calling for his removal, but for a proper investigation,” Dangote said, adding, “He should be required to account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians.”
Also urging the Code of Conduct Bureau (CCB) and other relevant agencies to investigate the matter, Dangote expressed his readiness to provide evidence to support his claims if challenged.
He also accused the NMDPRA leadership of frustrating local refining through the continued issuance of petroleum product import licences, despite growing domestic refining capacity.
Dangote said the regulator’s actions have sustained Nigeria’s dependence on fuel imports and discouraged investment in local refining, claiming that import licences covering about 7.5 billion litres of Premium Motor Spirit (PMS) had reportedly been issued for the first quarter of 2026, even as local refiners struggle to operate profitably.
While warning that continued importation of refined products was harming local production and placing modular refineries on the brink of collapse, Africa’s richest man also criticised what he described as entrenched interests benefiting from fuel imports at the expense of national development.
On pricing, Dangote assured Nigerians that the pump price of PMS would fall further, announcing that petrol would sell at no more than ₦740 per litre from Tuesday, starting in Lagos, following a reduction in the refinery’s gantry price to ₦699 per litre, adding that MRS filling stations would be the first to implement the new price.
Further explaining that the refinery had reduced its minimum purchase requirement to enable more marketers to participate and was prepared to deploy its Compressed Natural Gas (CNG) trucks nationwide to ensure affordability, he said Nigerians would ultimately benefit from domestic refining, even as fuel importers incur losses.
Offering insights on plans to list the Dangote Petroleum Refinery on the Nigerian Exchange to allow Nigerians to own shares in the facility, the business magnet said, “This refinery is for Nigerians first. I am not giving up.”
