Nigerian President Bola Tinubu has submitted nominations to the Senate for two new leaders of the country’s oil and gas regulatory bodies, following the sudden resignations of their predecessors amid a high-profile conflict with Africa’s richest man, Aliko Dangote.
The leadership changes came after Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission, and Farouk Ahmed, head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, stepped down.
Dangote has accused Ahmed of permitting low-cost fuel imports that threaten domestic refineries, including his Lagos refinery, which has a capacity of 650,000 barrels per day, the largest in Africa.
On Wednesday, Dangote filed a petition against Ahmed with Nigeria’s Independent Corrupt Practices and Other Related Offences Commission (ICPC), one of the nation’s key anti-corruption agencies.
Komolafe, who recently oversaw an oil block auction, had also clashed with Dangote over enforcing a law that mandates oil producers to prioritize supplying local refineries.
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The resignations and subsequent appointments come at a critical moment for Nigeria, Africa’s top oil producer, where uncertainty over regulation and supply issues has drawn significant attention since Dangote’s petition against Ahmed.
Dangote’s complaint included concerns over governance and alleged personal expenditures exceeding declared income. Despite the turbulence, analysts say the leadership shake-up is unlikely to destabilize the sector.
Komolafe’s designated successor, Oritsemeyiwa Amanorisewo Eyesan, is a former executive of the state-owned Nigerian National Petroleum Corporation (NNPC), with more than 30 years of experience, including leadership of one of its subsidiaries.
Farouk Ahmed’s replacement, Saidu Aliyu Mohammed, has recently joined Seplat Energy as an independent non-executive director.
Mohammed brings over 37 years of experience, having previously led an NNPC division and contributed to the drafting of Nigeria’s Gas Master Plan.
“I don’t think in either case, these resignations would adversely affect investor confidence,” said Ayodele Oni, an energy lawyer and partner at the Lagos-based Bloomfield law firm.
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Image Credit: Marketforces Africa
