In a crucial move for Nigeria’s oil and gas sector, President Bola Ahmed Tinubu has nominated new heads for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) following the abrupt resignations of their predecessors, Farouk Ahmed and Gbenga Komolafe.
These resignations were influenced by tensions with Aliko Dangote, Africa’s wealthiest businessman, who has accused Ahmed of allowing discounted fuel imports that harm local refineries, including his own Dangote Refinery.
Furthermore, he alleged financial misconduct, prompting a formal complaint to Nigeria’s anti-corruption agency. Dangote also criticized Komolafe for failing to enforce regulations prioritizing local refineries, which strained his relationship with the agencies.
Tinubu has nominated Oritsemeyiwa Amanorisewo Eyesan to lead the NUPRC and Saidu Aliyu Mohammed to head the NMDPRA. Both nominees are seasoned professionals with substantial experience in the oil industry.
Eyesan, a former executive at the Nigerian National Petroleum Company Limited, has over 30 years in the field, while Mohammed has a 37-year career, having previously served as an independent director at Seplat Energy and contributing to Nigeria’s Gas Master Plan.
The nominations are pending confirmation by the Nigerian Senate. Analysts view the appointments as unlikely to drastically boost investor confidence due to ongoing regulatory uncertainties and supply challenges in the sector.
As Nigeria’s energy sector faces scrutiny from regulatory disputes and the need for revitalization of domestic refining, these new leaders are expected to steer the industry toward improved stability and growth.
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