The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has announced the commencement of an immediate investigation into corruption allegations against the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed.
The anti-graft agency confirmed that it has received a formal petition submitted by the President of Dangote Industries Limited, Alhaji Aliko Dangote, accusing the NMDPRA boss of misconduct.
Spokesman of the commission, John Odey, said the petition would be thoroughly investigated.
The Atlantic Bell had earlier reported that Dangote, through his lawyer, petitioned the ICPC, demanding the arrest and prosecution of Ahmed.
In a terse statement, Odey said: “The Independent Corrupt Practices and Other Related Offences Commission (ICPC) confirms that it received a formal petition today, Tuesday, December 16, 2025, from Alhaji Aliko Dangote through his lawyer.
“The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated.”
Dangote alleged that Ahmed was living beyond his means, claiming that he spent about $5 million to sponsor his children’s secondary education in Switzerland.
“I am not calling for his removal, but for a proper investigation,” Dangote said. “He should be required to account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians.”
He also called on the Code of Conduct Bureau and other relevant agencies to probe the matter, stressing that he was ready to provide evidence to support his claims if required.
Speaking at a press conference on Sunday at the Dangote Petroleum Refinery, the billionaire industrialist accused the leadership of the NMDPRA of frustrating local refining through the continued issuance of petroleum product import licences, despite Nigeria’s growing domestic refining capacity.
According to him, the regulator’s actions have entrenched the country’s dependence on fuel imports and discouraged investment in local refining.
Dangote claimed that import licences covering about 7.5 billion litres of Premium Motor Spirit (PMS) had reportedly been issued for the first quarter of 2026, even as local refiners struggle to operate profitably.
He warned that sustained importation of refined products was undermining local production and pushing modular refineries to the brink of collapse, while benefiting entrenched interests at the expense of national development.
On pricing, Dangote assured Nigerians of further reductions in fuel prices, announcing that PMS would sell for no more than ₦740 per litre from Tuesday, beginning in Lagos, following a cut in the refinery’s gantry price to ₦699 per litre. He said MRS filling stations would be the first to implement the new price.
He added that the refinery had reduced its minimum purchase requirement to accommodate more marketers and was prepared to deploy its Compressed Natural Gas (CNG) trucks nationwide to ensure affordability.
Dangote said Nigerians would ultimately benefit from domestic refining, even as fuel importers incur losses. He reiterated plans to list the Dangote Petroleum Refinery on the Nigerian Exchange to allow Nigerians to own shares in the facility.
“This refinery is for Nigerians first. I am not giving up,” he said.
