Farouk Ahmed Finally Speaks on Dangote’s Allegations

Farouk Ahmed Finally Speaks on Dangote’s Allegations
Ahmed stressed that his rise in the petroleum sector was based on merit rather than political patronage
Welcome thorough examination of his finances

The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Engr. Farouk Ahmed, has dismissed recent allegations concerning the funding of his children’s education and his integrity in office, describing the claims as misleading and ill timed.

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Eko Hot Blog reports that in a detailed statement on Tuesday, Ahmed said the allegations required a response not out of fear of scrutiny but because of their timing and nature.

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He said he welcomed a thorough examination of his finances, adding that his three decades of public service provided the necessary context to address the claims.

Ahmed traced his career in Nigeria’s petroleum sector to 1991, stressing that his rise was based on merit rather than political patronage. He said he worked across technical divisions, crude oil marketing, gas supply monitoring and downstream operations, with decisions guided by national interest.

“I spent my formative years in the technical divisions, where decisions are measured not by political expediency but by engineering precision and market realities,” he said.

The NMDPRA chief recalled his appointment as General Manager of the Crude Oil Marketing Division in 2012 and his elevation to Deputy Director in 2015, before assuming office as Chief Executive of NMDPRA in 2021.

He said he was fully aware of the challenges associated with implementing reforms under the Petroleum Industry Act, noting that enforcing transparency in a sector long characterised by opacity would naturally attract resistance.

Addressing claims that he spent $5 million on his children’s education in Switzerland, Ahmed described the figure as misleading. He said three of his four children received merit based scholarships covering between 40 percent and 65 percent of tuition costs.

Farouk Ahmed Finally Speaks on Dangote’s Allegations

According to him, the remaining costs were supported through contributions from his late father, a Northern Nigerian businessman, as well as personal savings accumulated over more than three decades of service.

“When scholarships, family contributions and my own savings are properly accounted for, my personal financial obligation is consistent with someone of my professional standing and length of service,” Ahmed said.

He confirmed that his annual compensation of about ₦48 million, including allowances, is publicly documented and that he has consistently submitted asset declarations to the Code of Conduct Bureau throughout his career.

Ahmed also linked the allegations to recent regulatory actions by the NMDPRA, including enforcement of quality standards that exposed substandard petroleum products, stricter licensing requirements and the implementation of transparent pricing mechanisms.

“These allegations resurfaced at a time when the authority is enforcing reforms that eliminate opacity and vested interests. This timing is not coincidental,” he said.

He defended the issuance of import licences by the authority, stating that such actions comply with Section 7 of the Petroleum Industry Act, which mandates supply security and the prevention of fuel scarcity.

“Granting import licences when domestic supply is insufficient is not sabotage. It is a legal duty,” he said.

Ahmed formally invited relevant authorities to investigate his finances and tenure in office, calling on the Code of Conduct Bureau, the Economic and Financial Crimes Commission and the National Assembly to conduct comprehensive reviews.

“I will cooperate fully, provide all documentation and answer all questions under oath if required,” he said.

He reaffirmed his commitment to regulatory independence and transparency, adding that integrity is tested during periods of pressure rather than comfort.

“Investigate thoroughly, examine every claim and scrutinise every transaction. My record, both financial and professional, will withstand any legitimate inquiry,” Ahmed said.