25/12/2025
Farouk Ahmed will be greatly missed
According to the Major Energies Marketers Association of Nigeria, Farouk Ahmed will be missed as CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, as he was a professional regulator who guided the downstream sector through one of its most difficult transitions. Speaking exclusively to The PUNCH, MEMAN's Executive Secretary, Mr Clement Isong, stated that Ahmed's departure represented a loss of expertise and maturity at a time when the business is still adjusting to deregulation, unpredictable pricing, and expanded local refinery. As the NMDPRA's first CEO, Isong praised Ahmed for successfully combining or transitioning the Department of Petroleum Resources and the Petroleum Equalisation Fund into the NMDPRA without losing any jobs, characterizing him as a great man.
First and foremost, I want to convey my sincere regret over the departure of the regulator, Engineer Farouk. Over the previous four years, I've found him to be extremely professional. He had one of the most challenging responsibilities in the industry: bringing together the DPR, the NMDPRA, and the PEF into a unified authority, as required by law. Ahmed resigned following charges made by Aliko Dangote, President of the Dangote Group, that the former regulator spent approximately $5 million on his children's secondary school education in Switzerland. The claim prompted public outrage and increased scrutiny of the regulator amid continuing tensions in the downstream petroleum industry. Ahmed criticized the claims as frivolous; he had anticipated for an inquiry by the Independent Corrupt Practices Commission