By Sopuruchi Onwuka

President Bola Ahmed Tinubu has removed the heads of Nigeria’s two key petroleum regulators, ordering the immediate exit of Engr Ahmed Farouk, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and Engr Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Both officials resigned shortly after meeting with the President at the State House in Abuja.

In a statement released Wednesday evening, presidential spokesman Bayo Onanuga confirmed the development, noting that the two officials were appointed in 2021 by former President Muhammadu Buhari following the enactment of the Petroleum Industry Act (PIA).

The sack comes barely 24 hours after Africa’s richest man and Chairman of Dangote Industries Limited, Alhaji Aliko Dangote, publicly accused Farouk of serious financial misconduct.

President Tinubu has written to the Senate, seeking expedited confirmation of two replacements: Oritsemeyiwa Amanorisewo Eyesan as Chief Executive of NUPRC; and Engr Saidu Aliyu Mohammed as Chief Executive of NMDPRA.

Onanuga described both nominees as seasoned oil and gas professionals.

Eyesan, an Economics graduate of the University of Benin, spent nearly 33 years at the NNPC and its subsidiaries, retiring as Executive Vice President, Upstream. She also served as Group General Manager, Corporate Planning and Strategy.

Mohammed, 68, from Gombe State, holds a Chemical Engineering degree from Ahmadu Bello University. He previously served as Managing Director of Kaduna Refining and Petrochemical Company and Nigerian Gas Company, and as Group Executive Director and Chief Operating Officer, Gas & Power at NNPC. He currently sits on the board of Seplat Energy Plc as an independent non-executive director.

The removal of the downstream regulator follows a formal petition submitted by Dangote to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on December 16.

In the petition addressed to ICPC Chairman Musa Adamu Aliyu (SAN), Dangote accused Farouk of corruption, abuse of office, and illicit enrichment. He called for Farouk’s arrest, investigation, and prosecution.

Dangote alleged that Farouk spent more than $7 million on the education of his four children in Switzerland, with school fees reportedly paid upfront for six years. He argued that such expenditure could not be justified by the earnings of a career public servant.

According to the petition, Dangote provided the names of the children, the schools they attended, and the amounts paid, urging the ICPC to verify what he described as “clear evidence of corrupt enrichment.”

The businessman further accused the former NMDPRA chief of diverting public funds for personal use and using the regulatory agency to advance private interests at the expense of Nigerians. He claimed the alleged misconduct had sparked public outrage and protests in several parts of the country.

Dangote cited Section 19 of the ICPC Act, which carries a five-year jail term without an option of fine, and said he was ready to personally appear before investigators with documentary evidence.

The allegations were first made public during a media interaction at the Dangote Refinery in Lekki on Sunday, where Dangote accused Farouk of frustrating local refining through continued issuance of fuel import licences.

Komolafe’s exit also follows growing scrutiny over the management of the Frontier Exploration Fund, estimated at over N250 billion.

The former NUPRC chief had stated that the funds were committed to work programmes approved for NNPC Limited, an explanation that alarmed industry stakeholders. Concerns were raised over allocating the entire fund to a single operator that is currently inactive in frontier exploration.

Stakeholders argue that the Petroleum Industry Act intended the fund to be managed independently by the NUPRC to de-risk exploration for multiple operators, especially as global financing for petroleum projects continues to shrink.

Questions have also been raised about the deployment of the Host Community Development Fund (HCDF). Industry players and host communities complain of little visible development impact, a situation blamed for rising agitation, eroding trust, and disruptions to oil and gas operations.

Oracle Intelligence reports that the sudden exit of the two regulators may be linked to these unresolved allegations and mounting pressure over their handling of critical industry funds.