In a report by Vanguard News on Wednesday, December 17, 2025, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has formally responded to the accusations levelled against him by the President of Dangote Industries Limited, Aliko Dangote.
While the billionaire industrialist called for an investigation into Mr Ahmed for alleged economic sabotage, the NMDPRA boss dismissed these claims, stating he is prepared for any scrutiny.
Addressing specific rumours about his finances, Mr Ahmed clarified that the education of his children in Switzerland was funded through legitimate means, including scholarships and family trust funds. He emphasised that the narrative portraying these costs as evidence of corruption is factually incorrect and ignores his decades of professional service.
He said, “Three of my four children received substantial merit-based scholarships ranging from 40% to 65% of tuition costs.”
Beyond these scholarships, he explained that verifiable evidence exists regarding an education trust fund established by his late father, a businessman from Northern Nigeria, who made provisions for his grandchildren before passing away in 2018. Additional support also came from extended family, consistent with traditional Nigerian values of collective investment in education.
Mr Ahmed further maintained that when his three decades of accumulated savings and official compensation are considered, his financial obligations remain consistent with his professional standing. He revealed that his annual salary of approximately N48 million is public knowledge, and he has consistently declared his assets to the Code of Conduct Bureau since joining the public sector in 1991.
Reflecting on his career, the NMDPRA Chief noted that he rose through the ranks from a junior engineer to his current position based on competence rather than political influence. Having managed critical sectors like crude oil marketing and downstream regulation during volatile periods, he argued that his current mandate is to implement the Petroleum Industry Act (PIA) with absolute transparency.
He concluded by stating that his efforts to reform the industry and eliminate “regulatory capture” and “preferential licensing” have naturally created friction with powerful entities. According to him, the national interest of Nigeria remains his priority, even if it means facing opposition from those who preferred the lack of transparency in the past. View, More,
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